Riyadh – Mubasher: Gas Arabian Services Company was awarded a SAR 50.98 million project contract from Advanced Petrochemical Company on 6 March 2023, according to a bourse filing.
Gas Arabian Services will construct a pipeline that supplies a gaseous stream from Advanced Petrochemical to Jubail United Company, an affiliated firm of Saudi Basic Industries Corporation (SABIC).
Last January, Gas Arabian Services and JGC Arabia Limited inked a SAR 139.53 million agreement for the Saudi Aramco Zuluf Onshore oil facilities project.
It is worth noting that Advanced Petrochemical logged net profits after Zakat and tax worth SAR 295 million in 2022, an annual plunge of 63.80% from SAR 815 million.
Meanwhile, SABIC generated SAR 16.53 billion in net profit after Zakat and tax last year, down 28.35% from SAR 23.07 billion in 2021.
