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Red Sea International Company announces the signing of a construction contract by its subsidiary, The Fundamental Installation for Electric Work Co. Ltd., with Modern Building Leaders Co.
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RED SEA
0.49
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1446/03/14 17/09/2024 15:55:21
| Element List | Explanation |
|---|---|
| Introduction | Red Sea International Company announces that its subsidiary, The Fundamental Installation for Electric Work Co. Ltd., has recently signed a contract with Modern Building Leaders Co. to execute Mechanical, Electrical, Plumbing (MEP) and Infrastructure Works in one of its projects. |
| Date of Announcement of the Award | 2024-07-11 Corresponding to 1446-01-05 |
| Contract Subject Matter | Supply, installation, testing, and commissioning of mechanical, electrical, plumbing (MEP), and infrastructure works in one of its projects |
| The Entity with Which the Contract was Signed | Modern Building Leaders Co. |
| Date of Signing the Contract | 2024-07-11 Corresponding to 1446-01-05 |
| Contract Value | SAR 1,522,059,988 (excl. VAT) |
| Contract Details | The Fundamental Installation for Electric Work Ltd. has signed a contract with Modern Building Leaders Co. for the supply, installation, testing, and commissioning of mechanical, electrical, plumbing (MEP), and infrastructure works in one of its projects. |
| Contract Duration | Nineteen (19) months |
| Financial Impact and the Relevant Period | The financial impact of this project will be reflected starting in Q3 2024 |
| Related Parties | Red Sea International Company & MSB Holding Company |
| Additional Information | The Fundamental Installation for Electric Work Ltd is a local market leader and one of the top standalone MEP contractors delivering world class projects via end to end solutions that provide integrated design, engineering and construction services in the field of mechanical, electrical, and plumbing (MEP) works. |
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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Last Price 62.0
Net Change 0.3 (+0.49%)
Value Traded (Sar) 68,136,474.1
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