GASCO to lease its land in Riyadh for SAR 243 mln

09/05/2018 Argaam

 

National Gas & Industrialization Co. (GASCO) on Wednesday signed an agreement to rent its owned land in Al Olaya, Riyadh, to RAKAA Holding Co. for a total value of SAR 242.5 million.

 

The rental contract becomes effective on June 20, 2018, GASCO said in a bourse statement.

 

Rent will be paid in annual installments for 20 years with a grace period on 27 months.

 

The financial impact will be reflected on the company’s financials from Q3 2020.

 

There are no related parties involved in the transaction, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.