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Heavy Industries
INVESTEE COMPANIES
CRISTAL
Cristal, based in Jeddah, was the second largest titanium dioxide producer in the world. In 2019, Cristal sold its titanium dioxide business to Tronox and in return now owns 24% shares in Tronox, listed in NY Stock Exchange. Cristal also holds 50% shares in Advanced Metal Industries Company, which is currently developing titanium based projects in Saudi Arabia. GIC owns 20% of Cristal.
FOULATH HOLDING COMPANY
FOULATH HOLDING COMPANY, based in Bahrain, is an investment vehicle and holding company primarily focused on investing in the steel industry GIC owns 50% of Foulath.