National Gas Co bags Saudi Arabia contract

NGC shares surged 9.71% on Thursday

Muscat - 

National Gas Co (NGC) announced on Thursday that it has been awarded a contract for supply of three LPG tanks in Saudi Arabia. It has also entered into a franchise agreement with a Kuwait-based company to introduce its metal cutting gas in the Kuwaiti market.

“This is to inform our esteemed shareholders and investors that NGC has been awarded a contract for the supply of three 104WC-each LPG tanks to CIF Jeddha by Al Forsan Global Industrial Complex in Saudi Arabia, for a contract value of US$216,000,” the company said in its disclosure to the Muscat Securities Market (MSM) on Thursday.

The company also announced that it has entered into a franchisee agreement with Engineering & Contracting Kuw-ait Co for the introduction of its revolutionary metal cutting gas 'NC+' in the Kuwaiti market.

“We expect reasonable income from these projects,” NGC added.

NGC shares surged 9.71 per cent on Thursday on the MSM.

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