Saudi: Gas Arabian Services pens $9.4mln deal with Yamama Cement

Reuters Images/Ahmed Yosri

The joint deal covers the procurement and construction of a gas pipeline as well as fuel supply for Yamama Cement’s new factory, according to a bourse disclosure

Staff Writer, Mubasher

February 12, 2024

PHOTO

Gas Arabian Services Company inked an agreement with Yamama Cement Company at a value of SAR 35.30 million on 11 February 2024.

The joint deal covers the procurement and construction of a gas pipeline as well as fuel supply for Yamama Cement’s new factory, according to a bourse disclosure.

Earlier this year, Gas Arabian Services obtained the board’s approval to transfer its shares from the Parallel Market (Nomu) to the main market All Share Index (TASI).

In the January-June 2023 period, the company recorded an annual hike of 98.79% in net profit after Zakat and tax to SAR 35.48 million, versus SAR 17.84 million.

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