“Bahri”, “GASCO terminate MoU to establish a company working in land transportation

Saudi National Maritime Transport Company (Bahri) and National Gas and Industrialization Company announced the termination of the memorandum of understanding signed between them by agreement of the two parties due to the lack of feasibility of establishing a company operating in the activity of land transport and logistical services for both parties, after conducting the necessary studies, and this termination did not result in any significant financial impact.

This comes in addition to the announcement of the Saudi National Maritime Transport Company (Bahri) about the latest developments regarding the signing of a non-binding memorandum of understanding with the National Gas and Industrialization Company to discuss ways of cooperation between them in entering into a partnership to establish a company operating in the activity of land transport and logistics services. The company announces the termination of the memorandum The understanding signed between the two parties by agreement of both parties regarding the futility of establishing a company operating in the activity of land transport and logistics services for both parties, after conducting the necessary studies.