SAPTCO receives memorandum of association, commercial register for SAT Transport

One of SAPTCO's public transport buses

Saudi Public Transport Co. (SAPTCO) stated that the memorandum of association and the commercial register was issued for its joint venture, SAT Transport, a limited liability company. 

SAT Transport’s capital amounts to SAR 10 million—85% holding for SAPTCO and 15% for NEX Continental Holdings Co., SAPTCO said in a statement to Tadawul. 

The partnership is in line with SAPTCO’s vision to implement its growth and expansion strategy and maximize its assets to achieve the highest levels of growth and the best financial returns for its shareholders, it added. 

On Jan. 11, SAPTCO signed a memorandum of understanding (MoU) with NEX Continental to cooperate in enhancing competitive opportunities in the Kingdom’s intercity transportation projects, Argaam earlier reported.