GASCO completes Articles of Association, commercial registry of SAR 5 mln subsidiary

GASCO headquarters

National Gas and Industrialization Co. (GASCO) completed the Articles of Association and commercial register issuance of its fully-owned limited-liability subsidiary, GAS Solutions, with a capital of SAR 5 million.

The subsidiary firm will begin operations after finalizing all administrative and technical requirements, GASCO said in a statement to Tadawul today, March 14, 2021.

Costs associated with establishing the company are yet to be determined.

In February, GASCO board of directors approved the establishment of a limited liability subsidiary, with its registered office in Riyadh. The new company will specialize in establishing and building liquefied petroleum gas (LPG) networks and tanks, developing LPG products and solutions, and providing related technical and engineering consultancy services, Argaam reported.