GAS signs SAR 50.98 mln deal with Advanced to build gas supply pipeline

Gas Arabian Services Co. (GAS) signed today, Nov. 12, a contract with Advanced Petrochemical Co. to build a pipeline for associated gas supply from the latter to Jubail United Petrochemical Co. (United), an affiliate of Saudi Basic Industries Corp. (SABIC).

The contract is valued at SAR 50.98 million, excluding VAT, GAS said in a filing to Tadawul, expecting a positive financial impact on its 2023 and 2024 financial statements.

There are no related parties to the contract, GAS added.

In March, Advanced awarded the engineering, procurement and construction (EPC) contract at a total value of SAR 50.98 million excluding VAT, Argaam earlier reported.

Source: Argaam