Latest news with #GasArabianServices
Arab News
22-06-2025
- Business
- Arab News
Closing Bell: Saudi main index edges down 0.34% to close at 10,574
RIYADH: Saudi Arabia's Tadawul All Share Index edged lower on Sunday, falling 36.44 points, or 0.34 percent, to close at 10,574.27. Total trading turnover reached SR3.72 billion ($991 million), with 134 stocks posting gains and 102 declining. The Kingdom's parallel market, Nomu, also recorded a slight dip, losing 27.14 points, or 0.10 percent, to settle at 26,148.69, as 34 stocks advanced and 39 retreated. Meanwhile, the MSCI Tadawul 30 Index dropped 5.34 points, or 0.39 percent, to finish at 1,361.80. Alistithmar AREIC Diversified REIT Fund was the best-performing stock of the session, with its share price rising 10 percent to SR8.25. Al Sagr Cooperative Insurance Co. followed with a 9.96 percent increase to SR12.36, while Knowledge Economic City climbed 5.36 percent to close at SR12.98. On the losing side, Retal Urban Development Co. saw the steepest decline, falling 5.10 percent to SR13.02. Flynas Co. dropped 4.13 percent to SR74.20, and Saudi Chemical Co. declined 3.85 percent to SR6.24. Shares of Hawiya Identity Auctions began trading on Nomu at SR13 per share. According to a Tadawul statement, the offering comprised 2.4 million shares, with Derayah Financial Co. acting as lead manager. Gas Arabian Services Co. announced the signing of a joint venture agreement with Italy's BONOMI Co. to establish a valve manufacturing company in the Kingdom. The new company will have a capital of SR5 million, with BONOMI holding a 60 percent stake and Gas Arabian Services owning 40 percent. The Saudi firm will fund its SR2 million share from internal resources. The deal is expected to have a long-term positive financial impact, though it remains subject to regulatory approvals and the fulfillment of conditions outlined in the agreement. Gas Arabian Services shares closed at SR15, up 0.40 percent. Mayar Holding Co. revealed that its subsidiary, NewPlast Co., has signed a two-year memorandum of understanding with Avant Sports to produce plastic chairs for sports stadiums. The chairs will be manufactured at NewPlast's Riyadh facility and will meet international and FIFA standards. The agreement supports Mayar's commitment to localizing specialized industries in line with Vision 2030 goals.
Argaam
22-06-2025
- Business
- Argaam
GAS, Italy's Bonomi sign JV to build Saudi valve plant
Gas Arabian Services Co. (GAS) signed a joint venture (JV) agreement with Italy's Bonomi Co. on June 21 to establish a valve manufacturing limited liability company (LLC) under the name 'Bonomi Saudi Arabia Factory LLC,' according to a statement to Tadawul. The new entity will be based in Saudi Arabia and initially capitalized at SAR 5 million. Bonomi will hold a 60% stake, while GAS will own the remaining 40%. GAS said it will finance its SAR 2 million share of the investment from its own resources. The company expects the JV to have a positive long-term financial impact. The establishment of the new entity remains subject to regulatory approvals and the fulfillment of conditions outlined in the partnership agreement.
Zawya
29-05-2025
- Business
- Zawya
Saudi: Gas Arabian pens agreement exceeding $221.46mln in value
Riyadh – Gas Arabian Services Company rolled out two agreements with Saudi Power Procurement Company at an aggregated value of SAR 830.63 million on 26 May. The deals cover the design, engineering, procurement, supply, delivery of all equipment and materials, construction, installation, test and commissioning of two gas projects. Gas Arabian highlighted that the two contracts will reflect on its income statements during the years from 2025 to 2027. The two entities will team up to establish a sales gas delivery system to Nairiyah IPP at a value of SAR 504.32 million. Meanwhile, the Rumah IPP project will be implemented at SAR 326.31 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Arab News
27-05-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 10,925
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 150.78 points, or 1.36 percent, to close at 10,925.18. The total trading turnover of the benchmark index was SR5.11 billion ($1.36 billion), with 21 stocks advancing and 227 declining. The Kingdom's parallel market, Nomu, also shed 188.50 points to close at 26,592.04. The MSCI Tadawul Index dropped by 1.27 percent to 1,398.58. United Cooperative Assurance Co. was the top performer on the benchmark index, with its share price rising 3.16 percent to SR7.50. Bonyan REIT Fund also advanced, gaining 1.63 percent to SR9.35. Jahez International Co. for Information System Technology saw its shares climb 1.33 percent to SR25.15. Conversely, Almoosa Health Co. saw its share price edge down by 6.90 percent to SR143.00. United Carton Industries Co., which debuted on the main market on Tuesday, also declined, with its share price falling 1.50 percent to SR49.25. On the announcements front, Gas Arabian Services Co. disclosed that it had signed two contracts worth SR830.64 million with Saudi Power Procurement Co. According to a statement on Tadawul, the first contract, valued at SR504.32 million, covers the construction of gas pipeline networks to supply the Nairyah Independent Power Project. The second contract, worth SR326.32 million, involves building gas pipeline infrastructure for the Rumah IPP. Gas Arabian Services said the financial impact of these agreements will be reflected in its financial statements from 2025 through 2027. Following the announcement, the company's share price slipped 0.51 percent to SR15.70.
Zawya
27-05-2025
- Business
- Zawya
Saudi-listed GAS bags $221mln contracts for Nairyah, Rumah IPPs
Saudi Arabia - Gas Arabian Services Company (GAS) has signed two contracts with state-run Saudi Power Procurement Company (SPPC), the principal buyer, to develop gas delivery systems for Nairyah and Rumah independent power projects (IPPs). The contract's combined value is 830.64 million Saudi riyals ($221.46 million), the company said in two separate statements to the Saudi stock exchange on Tuesday. The contracts include designing, engineering, procuring, supplying, delivering equipment and materials, constructing, installing, testing, and commissioning delivery systems for the two IPPs. The Nairyah IPP contract is valued at SAR 504.32 million, while the Rumah IPP contract is valued at SAR 326.32 million. The company explained that both contracts include the design, engineering, procurement, supply, and transportation of all equipment and materials, as well as the construction, installation, and commissioning testing of the Rumah IPP. The contract durations for both IPPs are 24 months, the statement said. The contracts are expected to positively impact GAS' financial statements from 2025 to 2027. (Editing by Anoop Menon) (
