Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) started operating eight new stations for fuel services on 11 April, according to a bourse filing.

The facilities include convenience stores, branded restaurants, coffee shops, and ATM services.

SASCO has invested SAR 20.9 million in four of the stations in Madinah and the Southern Area. They were funded through banking facilities from local banks.

Another four stations were renovated to operate, with two of them located in the Southern Area, one in the Central area, and another one in the Western Area.

The stations are expected to increase the operating revenues. The financial impact will likely reflect on the income statements of the second quarter (Q2) of 2021.

Earlier this year, SASCO signed a Shariah-compliant loan worth SAR 630 million with Al Rajhi Bank.

Source: Mubasher

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