Advanced's energy ministry-licensed unit to build, own, operate propane gas transport pipelines

04/12/2022 Argaam
Logo ofAdvanced Petrochemical Co.

Logo of Advanced Petrochemical Co.

Advanced Petrochemical Co. (Advanced) said that its subsidiary, Advanced Global Investment Co., was licensed by the Ministry of Energy to build, own and operate pipelines for propane gas transport in Jubail Second Industrial City (Jubail – 2). 

 

In a statement to Tadawul, Advanced said the license is valid for 25 years from Dec. 2, date of publication of the ministerial resolution in the official gazette.

 

Any material development will be announced later.

 

Advanced expressed gratitude for the Ministry of Energy for its confidence in the company’s performance in the petrochemicals industry and for the ministry’s efforts to support and enhance the local content, which will increase the national industries competitiveness to realize the Kingdom’s Vision 2030, the statement concluded.

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