GAS Lands SAR598 Million Contracts for Saudi Gas Pipeline Development

GAS Lands SAR598 Million Contracts for Saudi Gas Pipeline Development

By Staff Writer, 05 March 2024

Gas Arabian Services Company (GAS), a prominent provider of project management solutions in the energy sector, has recently clinched two substantial contracts valued at SAR598 million ($159.3 million) from the Saudi Power Procurement Company.

These contracts entail the provision of engineering, procurement, and construction (EPC) services for two pivotal gas pipeline projects within the Kingdom.

According to GAS's disclosure to the Saudi bourse Tadawul, the first contract, valued at SAR256.1 million, pertains to a gas pipeline initiative located in the Taiba region.

Concurrently, the second contract, valued at SAR342 million, is designated for the Qassim gas pipeline project.

GAS has committed to completing the entirety of the project works within a concise timeline of 22 months, emphasizing its dedication to efficient project delivery.

Furthermore, GAS anticipates that the financial ramifications of these ventures will become evident within the fiscal years of 2024 and 2025.

Source: Trade Arabia

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