Red Sea subsidiary inks SAR 253M construction contract

14/08/2024 Argaam

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Logo of Red Sea International Co.

Red Sea International Co.'s subsidiary, The Fundamental Installation for Electric Work Co. Ltd., signed today, Aug. 14, a contract worth SAR 253.09 million (VAT inclusive) with Modern Building Leaders Co. (MBL), according to a Tadawul statement.

 

Under the 564-day contract, the subsidiary will carry out the supply, installation, testing, and calibration of mechanical, electrical, and plumbing works at one of MBL's projects.

 

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The relevant financial impact will appear as of Q3 2024, the statement said, adding that the related parties are Red Sea International and MSB Holding Co.

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