National Gas and Industrialization Co. Announces an update on National Gas and Industrialization Co. announces latest development on signing a non-binding Memorandum of Understanding with Bahri to discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services.
| Element List | Explanation |
|---|---|
| Introduction | Further to the National Gas and Industrialization Co.’s announcement on 03/10/2023 corresponding to 18/03/1445H, regarding the signing of a non-binding Memorandum of Understanding with Bahri to discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services.
The company announces the termination of the Memorandum of Understanding by mutual agreement due to the infeasibility of establishing a company for land transport and logistical services after conducting necessary studies. |
| Previous Announcement | National Gas and Industrialization Co. announces latest development on signing a non-binding Memorandum of Understanding with Bahri to discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-10-03 Corresponding to 1445-03-18 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Termination of the memorandum of understanding by agreement of both parties due to the lack feasibility of establishing a company operating in the activity of land transport and logistical services for both parties, after conducting the necessary studies. Additionally, there is no financial impact resulting from the termination |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not Applicab |
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