Riyadh – Mubasher: Emaar The Economic City announced Thursday that it obtained the licence from the Saudi Ministry of Energy to establish, own and operate a local network to distribute dry gas in King Abdullah Economic City (KAEC).
The license will be valid for 25 Hijri years starting from 26 Shawwal 1437 Hijri (31 July, 2016), with a possibility of extension, according to a bourse filing on Thursday.
As per the license, Emaar will develop the gas distribution network inside KAEC and provide it to the industrial eligible companies as per the energy ministry's tariff.
