INSEAD Day 4 - 728x90

Business, Company News, Energy

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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.

Most Read

Environment Agency – Abu Dhabi issues marine water quality policy

ABU DHABI,  UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…

Energy, commodity prices hurt profits of GCC firms

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise

Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.

3 ways travel drives economic growth while enhancing global connections and sustainability

WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and tourism has recovered and is set to reach new heights.…

The future of wellness hospitality: From short escapes to lifelong longevity

In recent years, wellness travel has evolved from a niche pursuit to one of the most dynamic sectors in global tourism. What began as an occasional escape from stress has…

INSEAD Day 4- 300x600
INSEAD Day 4- 300x600