NGDC, TAQA Arabia sign deal to set up firm in Saudi Arabia

Logo of Natural Gas Distribution Co. (NGDC)

Natural Gas Distribution Co. (NGDC) signed a partnership agreement with TAQA Arabia, the company said in a statement to Tadawul.

The agreement aims to establish a limited liability company in Saudi Arabia in compliance with the Companies Law, the Investment Law and their implementing regulations.

Any material development will be announced in due course, once the formal incorporation procedures are complete, the statement added.

In September 2022, NGDC signed a memorandum of understanding (MoU) with TAQA Arabia to discuss ways of cooperation for entering into a partnership to develop and operate gas transportation services and gas networks, Argaam earlier reported.

TAQA Arabia is the largest natural gas distribution company in Egypt, as it has one of the largest team specialized in engineering and construction related to natural gas distribution business in order to supervise the distribution activities practiced by the group as well as other projects in several other countries.