National Gas & Industrialization Co. (GASCO) has inked an agreement with the Saudi Gas Cylinder Factory at a total value of SAR 130.06 million excluding VAT, the company said in a bourse statement.
Under the three-year agreement, the Saudi gas factory will manufacture and supply gas cylinders and tankers to GASCO.
The relevant financial impact will reflect on the company's earnings over the agreement term, the statement added.
GASCO owns a 37.57 percent stake in the Saudi Gas Cylinders Factory, a closed joint stock company.
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