Latest news with #Nairyah
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.
