Riyadh — Mubasher: Natural Gas Distribution Company has won a competitive bid from the Ministry of Energy to obtain a license for the development of natural gas infrastructure, according to a bourse filing.
Under the terms of the award, the company is authorized to construct, own, and operate a natural gas distribution network within the Industrial City in Al Kharj.
The company stated that the project is expected to have a positive financial impact on its results once actual operations commence.
Natural Gas Distribution noted that it will disclose any material developments regarding the project's progress and timeline in future regulatory filings.
This license aligns with the ministry's broader efforts to expand energy infrastructure and industrial utility services across the Kingdom's specialized economic zones.
It is worth noting that no specific contract value or duration was disclosed in the initial announcement.
