SISCO’s subsidiary inks deal to provide logistics services in Jeddah

07/09/2015 Argaam

Support Services Operation Co. (ISNAD), a 97 percent owned subsidiary of Saudi Industrial Services Co (SISCO), signed on Monday a 20-year Build Operate Transfer (BOT) agreement with Saudi Industrial Property Authority (MODON) to establish and develop logistical services within Jeddah’s first industrial city, its parent company said in a statement to Tadawul.

 

The project’s cost is estimated at SAR 55 million, which will be financed through partnerships and Sharia-compliant loans.

 

The financial impact will be reflected on 2017 statements, the company added.

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