Saudi: SAPTCO rolls out $22.4mln agreement

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The two entities signed the deal on 25 August 2024 for five years, according to a bourse disclosure

Staff Writer, Mubasher

August 26, 2024

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Saudi Public Transport Company (SAPTCO) penned a SAR 83.99 million agreement with Tabuk Municipality for the public bus transport project in Tabuk City.

The two entities signed the deal on 25 August 2024 for five years, according to a bourse disclosure.

SAPTCO will operate the first phase of the public transport network in Tabuk City.

Meanwhile, the contract is expected to have a positive financial impact on SAPTCO’s financial statements during the second quarter (Q2) of 2025.

In the first half (H1) of 2024, the Tadawul-listed company swung to net losses valued at SAR 7.01 million, compared to net profits worth SAR 11.14 million in H1-23.

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