SAPTCO signs a Memorandum of Understanding with NEX Continental Holdings

The Saudi Public Transport Company “SAPTCO” announced the signing of a memorandum of understanding with NEX Continental Holdings, aimed at cooperation to enhance competitive opportunities in intercity transportation projects in the Kingdom.

The company said in a statement on “Saudi Arabia’s Tadawul” today, Wednesday, that the cooperation aims to enhance competitive opportunities in intercity transportation projects in the Kingdom.

She explained that the term of the memorandum is two years from the date of the agreement, subject to renewal.

She added that there is no financial impact of the memorandum of understanding.

She indicated that the percentage of cooperation between the two parties is 85% for SAPTCO, and 15% for NEX Continental Holdings.

And she continued, “Any developments or material developments will be announced in due course.”