Latest news with #GasArabianServices
Zawya
29-05-2025
- Business
- Zawya
Saudi: Gas Arabian pens agreement exceeding $221.46mln in value
Riyadh – Gas Arabian Services Company rolled out two agreements with Saudi Power Procurement Company at an aggregated value of SAR 830.63 million on 26 May. The deals cover the design, engineering, procurement, supply, delivery of all equipment and materials, construction, installation, test and commissioning of two gas projects. Gas Arabian highlighted that the two contracts will reflect on its income statements during the years from 2025 to 2027. The two entities will team up to establish a sales gas delivery system to Nairiyah IPP at a value of SAR 504.32 million. Meanwhile, the Rumah IPP project will be implemented at SAR 326.31 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Arab News
27-05-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 10,925
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 150.78 points, or 1.36 percent, to close at 10,925.18. The total trading turnover of the benchmark index was SR5.11 billion ($1.36 billion), with 21 stocks advancing and 227 declining. The Kingdom's parallel market, Nomu, also shed 188.50 points to close at 26,592.04. The MSCI Tadawul Index dropped by 1.27 percent to 1,398.58. United Cooperative Assurance Co. was the top performer on the benchmark index, with its share price rising 3.16 percent to SR7.50. Bonyan REIT Fund also advanced, gaining 1.63 percent to SR9.35. Jahez International Co. for Information System Technology saw its shares climb 1.33 percent to SR25.15. Conversely, Almoosa Health Co. saw its share price edge down by 6.90 percent to SR143.00. United Carton Industries Co., which debuted on the main market on Tuesday, also declined, with its share price falling 1.50 percent to SR49.25. On the announcements front, Gas Arabian Services Co. disclosed that it had signed two contracts worth SR830.64 million with Saudi Power Procurement Co. According to a statement on Tadawul, the first contract, valued at SR504.32 million, covers the construction of gas pipeline networks to supply the Nairyah Independent Power Project. The second contract, worth SR326.32 million, involves building gas pipeline infrastructure for the Rumah IPP. Gas Arabian Services said the financial impact of these agreements will be reflected in its financial statements from 2025 through 2027. Following the announcement, the company's share price slipped 0.51 percent to SR15.70.
Zawya
27-05-2025
- Business
- Zawya
Saudi-listed GAS bags $221mln contracts for Nairyah, Rumah IPPs
Saudi Arabia - Gas Arabian Services Company (GAS) has signed two contracts with state-run Saudi Power Procurement Company (SPPC), the principal buyer, to develop gas delivery systems for Nairyah and Rumah independent power projects (IPPs). The contract's combined value is 830.64 million Saudi riyals ($221.46 million), the company said in two separate statements to the Saudi stock exchange on Tuesday. The contracts include designing, engineering, procuring, supplying, delivering equipment and materials, constructing, installing, testing, and commissioning delivery systems for the two IPPs. The Nairyah IPP contract is valued at SAR 504.32 million, while the Rumah IPP contract is valued at SAR 326.32 million. The company explained that both contracts include the design, engineering, procurement, supply, and transportation of all equipment and materials, as well as the construction, installation, and commissioning testing of the Rumah IPP. The contract durations for both IPPs are 24 months, the statement said. The contracts are expected to positively impact GAS' financial statements from 2025 to 2027. (Editing by Anoop Menon) (
Argaam
27-05-2025
- Business
- Argaam
GAS signs SAR 830.6M contracts with SPPC
Gas Arabian Services Co. (GAS) signed two contracts, on May 25, with the Saudi Power Procurement Co. (SPPC), the principal buyer, with a total value of SAR 830.64 million, excluding value-added tax (VAT). In a statement to Tadawul, the company said the first contract entails the construction of gas pipeline networks to supply the Nairyah Independent Power Project (IPP), valued at SAR 504.32 million, excluding VAT. In a separate statement, the company noted that the second contract involves the construction of gas pipeline networks to supply the Rumah IPP, with a value of SAR 326.32 million, excluding VAT. The company explained that both contracts include the design, engineering, procurement, supply, and transportation of all equipment and materials, as well as the construction, installation, and commissioning testing of the Rumah IPP. Each contract has a duration of 24 months. GAS expects these contracts to have a positive financial impact on its financial statements for the years 2025 through 2027. According to data compiled by Argaam, GAS had recently announced the award of the two contracts with the SPPC, totaling SAR 830.64 million, excluding VAT.
Zawya
14-05-2025
- Business
- Zawya
GAS wins $221mln contracts to build gas pipeline infrastructure
Saudi-listed Gas Arabian Services Company (GAS) has secured two contracts from the state-backed Saudi Power Procurement Company (SPPC) to build gas pipeline infrastructures for two projects in the Kingdom. The combined value of the contracts stands at 830.64 million Saudi riyals ($221.45 million), according to statements published on the Saudi stock exchange on Wednesday. The first contract, valued at SAR 326.32 million, is to develop a gas pipeline infrastructure for the Rumah independent power plant (IPP) project. The second contract, worth SAR 504.32 million, relates to constructing gas pipeline infrastructure for the Nairyah IPP project. The work scope of the contracts includes designing, engineering, procurement, supply, and delivery of all equipment and materials, as well as constructing, installing, testing and commissioning the projects. In November 2024, SPPC signed Power Purchase Agreements (PPAs) for Rumaih-1 and Nairyah-1 (1,800 MW each) with a consortium of ACWA Power, Saudi Electricity Company (SEC), and Korea Electric Power Corporation (KEPCO). PPAs for Rumaih-2 and Nairyah-2 (1,800 MW each) were signed with a consortium of Abu Dhabi National Energy Company (TAQA), JERA, and Al Bawani. (Editing by Anoop Menon) (
