Riyadh – Mubasher: Saudi Arabia’s National Gas and Industrial Company (GASCO) has extended a SAR 59.3 million agreement with Saudi Gas Cylinder Factory to manufacture cylinders and gas tanks. 

GASCO owns a 37.57% stake in Saudi Gas Cylinder Factory.

The deal was extended for one year, starting from 3 April, according to a statement to the Saudi Stock Exchange (Tadawul).

Under the contract, GASCO has the right to adjust annual product volumes by 20% at maximum of the signed quantities.

The transaction’s financial impact will appear during the agreement’s period, the Tadawul-listed company said.  

GASCO’s stock shed 0.63%, to close Tuesday’s session at SAR 30.10.