GASCO says it only suspended 19 employees as labor probe still pending

National Gas and Industrialization Co. (GASCO) said it has only suspended 19 employees, not 83, according to Salman Al-Jishi, board chairman and managing director.

Saudi Arabia's local media recently reported that the ministry of labor and the National Anti-Corruption Commission (Nazaha) are probing complaints filed by 83 GASCO employees who claim they were illegally suspended, according to data available on Argaam.

“Employees having labor claims against GASCO would be suspended and have their base pay frozen ​until

​such claims are settled,” Al-Jishi told CNBC Arabia.

The gas producer aims to diversify its income and supply all energy sources, Al-Jishi added.

​The company does not expect a significant increase in profit from core operations ​since it

 abides by the kingdom​'s fixed ​gas prices.

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GASCO is eyeing ​expansions in liquefied natural gas services by targeting more consumers in the industrial and household sectors, he said.

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The company is sitting on nearly SAR 300 million cash. It aims to enter into new partnerships in different fields ​during the first half of 2015, Al-Jishi added.