Tuesday, 29 November 2022

Bahri signs MoU with GASCO to establish a company that ‎operates in land transportation and logistics services

The National Shipping Company of Saudi Arabia (Bahri) announced the signing of a non-binding memorandum of understanding with the National Gas and Industrialization Company (GASCO) to discuss ways of cooperation between them in entering into a partnership to establish a company operating in the field of land transport and logistics services. The duration of the memorandum is 12 months from the date of signing for the extension.

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The company said in a statement today on “Tadawul” that the related parties are: The Public Investment Fund, which is one of the major shareholders of the two companies, owning 22.55% of the shares of Bahri and 10.91% of the shares of the GASCO, according to the date of the signing of the agreement. The agreement announced above, indicating that the financial impact cannot currently be determined.

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