Launching Khazaen Truck Rest Area Project
Muscat: National Gas signs 44-year lease contract with Khazan Economic City
In a disclosure to Muscat Stock Exchange the company said: “We are thrilled to share a major development with our esteemed shareholders. On 18.10.2023 National Gas SAOG officially signed a 44-year lease contract with Khazan Economic City for the development and maintenance of the Truck Rest Area.
This project aims to establish a Truck Rest Area in Khazaen, complemented by commercial shops, drivers’ dormitory, vehicle maintenance services, tire shops, and storage facilities to support truck operations with a size of 50,000 sqm. The total budgeted capital expenditure for this project would be OMR 2.7 million and the Company is in the process of evaluating the various options for financing the required investment in this project. This investment represents a significant commitment on NGC’s part, demonstrating our confidence in potential returns and the positive impact it will have on the company.
We are dedicated to enhancing shareholders’ value through strategic investments. Our involvement in this project aligns with our growth and diversification strategy.
Thank you for your trust in National Gas SAOG.
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