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Company News, Business, Energy

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

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Aramco signs $11bn deal

The deal involves its Jafurah gas facilities.

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.

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