Saudi SASCO awarded $56mln supply deal

The deal involves supplying petroleum services and automotive services by SASCO’s locations for three years

  
A man injects a vehicle with fuel at a petrol station in Riyadh, Saudi Arabia October 8, 2017.

A man injects a vehicle with fuel at a petrol station in Riyadh, Saudi Arabia October 8, 2017.

REUTERS/Faisal Al Nasser

Riyadh –  Saudi Automotive Services Company (SASCO) was awarded fuels supplying contract worth SAR 209 million.

The General Security in Makkah Region awarded the deal to SASCO, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

The deal involves supplying petroleum services and automotive services by SASCO’s locations for three years as of the date of signing the contract, which is expected to be on 24 April.

The value of the contract includes the value-added tax (VAT).

The financial impact will appear in the second quarter (Q2) of 2020.

SASCO noted that the financial impact cannot be determined precisely because it is related to actual withdrawals from petroleum and automotive services.

Source: Mubasher

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