GASCO says Court of Appeal upholds ruling on Ministry of Transport lawsuit

Logo of GASCO

National Gas and Industrialization Co. (GASCO) announced that it received a statement from its representative concerning a hearing session on March 22, 2021, before the Seventh Judicial Circuit of Appellate Court, to consider the appeal submitted by the Ministry of Transport on the initial verdict.

GASCO said in a bourse statement that the verdict was pronounced and the contents state as follows:

- The appeal was accepted in abatement

- The verdict issued by the Second Traffic Circuit of Riyadh General Court No. 421182941 dated Dec. 3, 2020, was endorsed (the verdict state to dismiss the claimant’s lawsuit, Ministry of Transport, and to release the respondent, GASCO) based on the grounds for judgment thereof.

The lawsuit is completed and there are no costs associated with the event, the statement added.

According to data compiled by Argaam, GASCO announced in December 2020 that the second circuit of Riyadh general court dismissed the Ministry of Transport's legal claim against the company.

GASCO further said that it received in May 2017 a copy of the lawsuit from the attorney general against the company for the gas tanker explosion that occurred in November 2012.

In January 2020, Riyadh’s court of appeal rejected the statement of claim submitted by the attorney general against the company for the gas tanker explosion.

On Nov. 1, 2012, GASCO’s gas tanker exploded near Riyadh that resulted in significant human and material losses.