Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business, Energy

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Borouge to increase dividend from 2025

The company okayed $650 million final dividend for 2024.

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

GAS, SPPC ink two contracts

The contracts are expected to reflect positively on the company's results in 2024 and 2025. (Wikipedia)
By TRENDS Desk
March 3, 2024 7:59 pm
  • The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines.
  • The first contract is valued at $90 million (SAR341.09 million), while the second is worth $68 million (SAR256.1 million).

ABU DHABI, UAE – Gas Arabian Services Co. (GAS) signed on Sunday two contracts worth US$159 million (SAR598 million), exclusive of VAT, with Saudi Power Procurement Co. (SPPC), according to a filing to Tadawul.

The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines, the company said, adding that the duration for each contract is 22 months.

The first contract is valued at US$90 million (SAR341.09 million), while the second is worth US$ SAR256.1 million.

The contracts are expected to reflect positively on the company’s results in 2024 and 2025.

There are no related parties to the deal, the statement said.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

Energy deals top list as Bahrain issues $1.6bn tenders in Q1 2021

Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m     Bahrain…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

[adinserter block="4"]