Bus operator Saudi Public Transport Company (SAPTCO) has signed a contract worth more than 149.6 million riyals ($39.8 million) for a public bus transport project in Saudi Arabia. 

The contract for the project, which will be implemented in Dammam City and Al-Qatif governorate, has been signed with the Eastern Province Municipality, SAPTCO told the Saudi Stock Exchange (Tadawul) late Sunday. 

The project will be carried out in five years and is expected to have a positive impact on the company’s revenues during the first half of 2022. 

The company had narrowed its losses to 57 million riyals in the third quarter of 2021 from more than 121.7 million riyals in the same period in 2020. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 


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