Saudi GAS pens $159mn gas pipe EPC contracts

Saudi Arabia-listed Gas Arabian Services Company (GAS) has inked two engineering, procurement, and construction (EPC) contracts worth 598.01mn riyals ($159.46mn) with the state-owned Saudi Power Procurement Company (SPPC) for gas pipeline projects, it said on March 3.

The first EPC contract pertains to the Qassim pipeline and is valued at 341.90mn riyals, while the second contract is for the Taibah pipeline with a value of 256.10mn riyals.

Both contracts, as disclosed in separate statements to the Saudi stock exchange, are for a duration of 22 months.