News & insight

The National Shipping Company of Saudi Arabia (Bahri) announces signing a non-binding Memorandum of Understanding with National Gas and Industrialization Co. (GASCO)

03 OCT 2022

Memorandum Signing Date 2022-10-03 Corresponding to 1444-03-07
Counterparty National Gas and Industrialization Co.
Memorandum Subject To discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services.
Memorandum Duration 12 months from the date of signing the MoU and can be extended.
Related Parties Public Investment Fund. Where it is one of the major shareholders of the two parties with an ownership of 22.55% of the shares of Bahri and 10.91% of the shares of GASCO as per the date of MOU announced above
Financial Impact The financial impact cannot be currently determined.