The Saudi National Shipping Company “Bahri” has signed an agreement with the “Enhancing Partnership with the Private Sector (Partnership)” program to support the company’s efforts to enter and invest in the gas transportation sector, to enable the company to meet future demand for gas transportation and diversify the transport fleet, to include a vital and promising sector in light of the A competitive economic environment in the transport sector.
According to a statement posted on the Saudi Tadawul Group website, the cost of the project is about 1.53 billion riyals.
The project will be financed through the company’s own resources in addition to bank financing.
Bahri said that it is currently working on determining the expected financial impact of the project on the company’s results, and the company will later announce the financial impact, which will begin in the company’s results when the project is completed and the fleet starts operating.
It is planned that the level of capital investment in the project during the period 2024 AD – 2030 AD will reach 1.53 billion riyals, in line with the long-term investment cycle of the company that requires investments in ships specialized in transporting gas with a focus on more efficiency, sustainability and cost management during the plan period to ensure continuity Competitiveness and appropriate returns for the company’s shareholders.
This investment will be through the acquisition or through building a fleet in line with the expected growth in demand in the Kingdom and the world for gas transportation.
