Arab Finance: Taqa Arabia has finalized the procedures for incorporating a limited liability company in Saudi Arabia, in cooperation with the Saudi Natural Gas Distribution Company, with a paid up capital of SAR 500,000, as per a filing.
Dubbed First Gas Company Limited, the new firm will be engaged in extending, maintaining, and repairing oil and natural gas pipelines, in addition to transporting natural gas via pipelines.
Taqa Arabia holds 50% of the new company’s capital.