Logo of SAPTCO
Saudi Public Transport Co. (SAPTCO) signed today, Jan. 11, a memorandum of understanding (MoU) with NEX Continental Holdings Co. to cooperate on enhancing competitive opportunities in the Kingdom’s intercity transportation projects.
The agreement has a term of two years and could be renewed, the company said in a statement on Tadawul.
SAPTCO’s percentage will be 85%, while NEX Continental Holdings gets the remainder, the statement added.
The Saudi-listed firm noted that there is no financial impact from this agreement and no related parties are included in the deal.
Any significant update will be announced in due course.
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