Saudi Arabia’s National Gas and Industrialisation Company (Gasco) has signed a non-binding memorandum of understanding (MoU) with Front End Company and Aburi Composites to study the feasibility of developing and operating a manufacturing facility for composite cylinders, the company stated in stock exchange statement.
The move will help the Tadawul-listed firm strengthen its gas supply chain investments and localisation opportunities, the statement said. The MoU term period is one year, which can be extended upon mutual consent.Â
UK-based Aburi is an international supplier of composite LPG cylinders, and offers integrated solutions for manufacturing composite cylinders, while Front End Company is a Saudi-based investment advisory services company, according to the statement.
In May, Gasco signed an MoU with Denmark-based Makeen Energy to study the feasibility of forming a company to establish, manage, operate and maintain gas facilities, stations and networks. The new company will also work to convert plastic waste to oil products, it had said.
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