GAS signs 2 contracts worth SAR 598M with SPPC

03/03/2024 Argaam

GAS signs 2 contracts worth SAR 598M with SPPC

Logo of GAS Arabian Services Co. (GAS) 

Gas Arabian Services Co. (GAS) signed today, March 3, two contracts worth SAR 598 million, exclusive of VAT, with Saudi Power Procurement Co. (SPPC) (the principal buyer), according to a filing to Tadawul.

 

The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines, the company said, adding that the duration for each contract is 22 months.

 

The first contract is valued at SAR 341.90 million, while the second is worth SAR 256.1 million.

 

The contracts are expected to reflect positively on the company's results in 2024 and 2025.

 

There are no related parties to the deal, the statement said.

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