BAHRI

26 May, 2024 16:01

The National Shipping Company of Saudi Arabia (Bahri) announces the latest update about the signing of a non-binding Memorandum of Understanding with the National Gas and Industrialization Co. (GASCO) to discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services

Element ListExplanation
Introduction Further to the National Shipping Company of Saudi Arabia (Bahri) announcement of the latest update about the signing of a non-binding Memorandum of Understanding with the National Gas and Industrialization Co. (GASCO) to discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services. The company announces the termination of the non-binding Memorandum of Understanding by agreement of both parties, due to the lack of feasibility to establish a company that operates in land transportation and logistics services for both parties, after conducting the necessary studies.
Previous Announcement The National Shipping Company of Saudi Arabia (Bahri) announces the latest update about the signing of a non-binding Memorandum of Understanding with the National Gas and Industrialization Co. (GASCO) to discuss ways of cooperation in partnering to establish a company that operates in land transportation and logistics services
Date of Previous Announcement on Saudi Exchange’s Website 2023-10-03 Corresponding to 1445-03-18
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event Termination of the non-binding Memorandum of Understanding by agreement of both parties, due to the lack of feasibility to establish a company that operates in land transportation and logistics services for both parties, after conducting the necessary studies, there is no financial impact resulting from the termination
The costs associated with the event, and if they have changed or not with indication of the reasons. N/A

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