Saudi Arabia’s Industrialization & Energy Services Co., which counts Saudi Arabian Oil Co. as its main client, plans to expand its business through acquisitions or establishing energy companies, al-Riyadh reported.

The company, known as Taqa, plans to distribute a 0.5 riyal-a-share (13 cents) dividend for 2011, the newspaper reported, citing a shareholders’ meeting. The Saudi government holds a 45 percent stake in the company.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net