Natural Gas signs SAR 16.1M contract for dry gas network

15/08/2024 Argaam

Natural Gas signs SAR 16.1M contract for dry gas network

Logo of Natural Gas Distribution Co. (NGDC) 

Natural Gas Distribution Co. (NGDC) signed today, Aug. 15, a contract with First Gas Co, a limited liability company, to install and implement a dry gas distribution network for Plan 80. The contract is valued at SAR 16.11 million.

 

In a statement on Tadawul, the company said that the eight-month contract covers engineering work, detailed design, material procurement, supply, manufacturing, construction, testing, and operation of the dry gas supply system in the Plan (80) area.

 

 

NGDC expects the project to impact liquidity during construction and forecasts an effect on financial results once operations start in the second quarter of 2025.

 

There are related parties involved, the statement added, noting that First Gas is a 50%-owned subsidiary of Natural Gas. One of the executive members of Natural Gas also serves as Chairman of the Board at First Gas Company.

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