National Gas and Industrialisation Holding Company (GASCO) said construction will start on its 89 million Saudi riyal ($23.72 million) fibreglass cylinders manufacturing plant in the second quarter of 2026.

Fiber Gas Industrial, a subsidiary of Khazeen Company, which is wholly owned by GASCO, signed an agreement with Germany-based ECS Service for the project.

GASCO is currently completing site-related procedures and obtaining the required regulatory approvals and permits from authorities to start execution works, it said in a statement to the Saudi stock exchange.

The new plant is expected to be completed in the fourth quarter of 2027, followed by a three-month trial operation. Commercial operations are likely to start in the first quarter of 2028.

The project will be funded through GASCO’s own resources and external sources, the statement said without giving any funding split.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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