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Bawan Co. Announces Contracts Award for its Subsidiary with the Saudi Electricity Company
| Element List | Explanation |
|---|---|
| Introduction | Bawan Company announces that its subsidiary in the electric sector has won a group of contracts to supply electrical products to the Saudi Electricity Company, with an estimated value of approximately SAR 409.7 million. |
| Date of the Award | 2024-03-28 Corresponding to 1445-09-18 |
| Counterparty | Saudi Electricity Company |
| Contract Value | The total contracts are estimated at approximately SAR 409.7 million. |
| Expected Date for Signing the Contract | 2024-03-28 Corresponding to 1445-09-18 |
| Contract Details | Commitment to supply electrical products according to the purchase orders that will be issued by the Saudi Electricity Company during the contract period |
| Related Parties | N/A |
| Additional Information | It is worth noting that the contract is binding on the subsidiary company and is not binding on the Saudi Electricity Company. The financial impact of the contract will be reflected in the results of Bawan Company, starting from the fourth quarter of 2024 until the fourth quarter of 2025. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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