Riyadh - Mubasher: Gas Arabian Services Company (GAS) signed a joint venture (JV) agreement with Italy-based BONOMI Company on 21 June 2025.

The partnership aims to establish a new limited liability company under the name BONOMI Saudi Arabia Factory LLC, according to a bourse filing.

Headquartered in Saudi Arabia, the newly formed entity will specialize in the manufacturing of industrial valves, with a total capital of SAR 5 million.

BONOMI will hold a 60% stake in the JV, while Gas Arabian will own the remaining 40% shareholding.

The Tadawul-listed firm will inject SAR 2 million from its resources to finance the joint company.

Subject to obtaining regulatory approvals, the JV is expected to generate a positive long-term financial impact for GAS Arabian.

In May, Gas Arabian signed two agreements worth SAR 830.63 million with Saudi Power Procurement Company to handle the full scope of two gas projects, including design, procurement, construction, and commissioning.