NGDC, TAQA Arabia set up JV with SAR 500,000 capital

06/09/2023 Argaam
Logo ofNatural Gas Distribution Co. (NGDC)

Logo of Natural Gas Distribution Co. (NGDC)

Natural Gas Distribution Co. (NGDC) announced establishing First Gas Co., a limited liability company equally owned with Egypt's TAQA Arabia Co., with SAR 500,000 capital, according to a Tadawul statement today, Sept. 6.

 

The company, which is listed on Nomu-Parallel Market, also said the memorandum of association and commercial register were issued for First Gas, with the headquarters located in Riyadh.

 

On Sept. 6, 2022, NGDC signed a memorandum of understanding (MoU) with TAQA Arabia to discuss ways of cooperation on a partnership to develop and operate gas transportation services and gas networks, according to Argaam's data.

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