GASCO signs MoU to 2 firms to develop, operate composite cylinders factory

17/08/2022 Argaam

Logo of National Gas and Industrialization Co. (GASCO)

National Gas and Industrialization Co. (GASCO) signed a non-binding memorandum of understanding (MoU) with Front End Co. and Aburi Composites Co. to study the feasibility of partnering to develop and operate a factory for manufacturing composite cylinders, according to a bourse filing today, Aug. 17.

 
The MoU was signed based on GASCO's strategy to strengthen its investments in gas supply chains and localization opportunities.
 
The term of the MoUs is one year that can be extended, the statement said, adding there are no related parties.
 
Front End Co. is engaged in providing advisory services and supporting international companies to expand in the region. 
 
Meanwhile, Aburi is a global supplier of composite LPG cylinders (fiberglass cylinders) registered in the UK and has modern integrated solutions for manufacturing composite cylinders.

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