The Industrialization & Energy Services Company (TAQA) was established in March 2003 as the result of Saudi Arabia's privatization strategy. While serving as a platform for growth, TAQA's main role is to identify, assess and develop projects. Its operating business model is a corporate management group which oversees various business units. TAQA's charter is wide and allows the company to participate in a range of industrialization and energy service activities intended to support and expand Saudi Arabia's industrial base.