Bahri, GASCO sign non-binding MoU on co-establishment of logistics services firm

03/10/2022 Argaam
Logo ofBahri GASCO

Logo of Bahri & GASCO

National Shipping Company of Saudi Arabia (Bahri) signed today, Oct. 3, a non-binding memorandum of understanding (MoU) with National Gas and Industrialization Co. (GASCO) to discuss a potential partnership to establish a company that operates in land transportation and logistics services.

 

The renewable MoU is valid for 12 months from the signing date, Bahri said in a statement to Tadawul.

 

The financial impact cannot be estimated at present, the company added.

 

On the other hand, the Public Investment Fund (PIF) is a major shareholder in both companies, holding 22.55% of Bahri and 10.91% of GASCO as per the MoU date above.

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