The National Gas and Industrialization Co. (GASCO) has signed a SAR 203 million credit agreement with the Saudi Industrial Development Fund.
The deal was signed on Thursday, Sept. 27, 2018, with a credit period of six years, GASCO said in a bourse statement.
The purpose of the loan is to finance the establishment of lines and handling areas for the packaging and distribution of gas with a production capacity of 750,000 tons.
The amount is covered by seven plots of land and Dammam Station as well as a promissory note from the company.
No related parties are involved in the deal, the statement said.
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