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GASCO inks MoU on land development with MEFIC

The National Gas & Industrialization Co. (GASCO) has signed a memorandum of understanding (MoU) with Middle East Financial Investment Company (MEFIC) to prepare a feasibility study on developing GASCO’s plot of land on King Fahd Road. The 90- day MoU will have no impact on the financial statements at present, GASCO said in a statement on Saudi bourse, Tadawul. Last month, chairman Salman Al-Jeshi unveiled plans with regard to developing and investing in the plot, which was estimated to be worth SAR 300 million.