The Saudi Public Transport Company - SAPTCO - announces the latest updates regarding the concession contract with the Government, in which SAPTCO and NEX Continental Holdings consortium won the intercity concession to transport passengers by buses in the southern region with the Transport General Authority
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Public Transport Company - SAPTCO announces that SAPTCO and NEX Continental Holdings consortium won the intercity concession to transport passengers by buses in the southern region. The contract with the Transport General Authority has been signed today for a period of ten years, starting from the launch of operations that will be during Q4 2023.
Furthermore, the company had previously announced on November 30, 2022 AD, that the Council of Ministers issued a decision on Jumada Al-Awwal 05, 1444 AH, corresponding to November 29, 2022 AD, approving the extension of the company’s concession contract, from 3/2/2022 AD, corresponding to 2/7/1443 AH, to 31/12/2023 AD, corresponding to 18/6/1445 AH, either or until the new region contracts start up (whichever is earlier). |
| Previous Announcement | Concession contract with the Government |
| Date of Previous Announcement on Tadawul's Website | 2022-11-30 Corresponding to 1444-05-06 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Additional Information | - The financial impact will be positive starting from the Q4 2023.
- The joint venture percentage will be 85% for SAPTCO, and 15% for NEX Continental Holdings. |
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