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Red Sea International Co. Announces that its subsidiary The Fundamental Installation for Electric Work Co. has signed a Subcontract Agreement for the execution of mechanical, electrical, and plumbing (MEP) works at one of its projects in Riyadh
4230
RED SEA
-0.46
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1447/09/02 19/02/2026 08:00:45
| Element List | Explanation |
|---|---|
| Introduction | Red Sea International announces that its subsidiary has signed a Subcontract Agreement with ABCC-UCC Joint Venture (Al Bawani Co. Ltd. and Urbacon Saudi W.L..L) for the execution of mechanical, electrical, and plumbing (MEP) works at one of its projects in Riyadh |
| Date of Announcement of the Award | 2026-02-18 Corresponding to 1447-09-01 |
| Contract Subject Matter | Subcontract Agreement for the execution of mechanical, electrical, and plumbing (MEP) works including engineering, supply, installation, testing, commissioning, and handing-over at at one of the projects in Riyadh |
| The Entity with Which the Contract was Signed | Joint Venture Al Bawani Co. Ltd. and Urbacon Saudi W.L..L |
| Date of Signing the Contract | 2026-02-18 Corresponding to 1447-09-01 |
| Contract Value | The Contract Value is equivalent to 6.76% of the total Revenue of the previous fiscal year |
| Contract Details | The scope of works assigned to The Fundamental Installation for Electric Work Co. includes engineering, supply, installation, testing, commissioning, and handover of all mechanical, electrical, and plumbing (MEP) works at one of the projects in Riyadh |
| Contract Duration | Twelve (12) months |
| Financial Impact and the Relevant Period | Starting from the Q1 2026 |
| Related Parties | N/A |
| Additional Information | The Fundamental Installation for Electric Work Co. 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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