Egypt-listed TAQA Arabia co-establishes gas distribution company in Saudi Arabia

The new company was incorporated in partnership with Saudi Natural Gas Distribution Company (NGDC) with an up-front capital investment of SAR 500,000 ($133,305).

TAQA owns 50 percent of the new firm, which was named First Gas Company.

Along with distributing natural gas, First Gas will extend and repair pipelines in the Saudi kingdom.

TAQA Arabia builds, runs, and upkeeps energy infrastructure, including gas transmission and distribution, in eight Egyptian governorates, serving over 1.7 million customers in 50 cities.

NGDC supplies natural gas to factories in Riyadh's industrial city.