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Red Sea International Co. Announces Signing of a Framework Agreement by its subsidiary The Fundamental Installation for Electric Work Co. at King Salman International Airport Project
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RED SEA
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1447/09/02 19/02/2026 08:00:52
| Element List | Explanation |
|---|---|
| Introduction | Red Sea International announces that its subsidiary has signed a Framework Agreement with King Salman International Airport Development Company in relation with the Enabling Works at King Salman International Airport in Riyadh city. |
| Date of Announcement of the Award | 2026-02-18 Corresponding to 1447-09-01 |
| Contract Subject Matter | A framework agreement which identifies the general terms and conditions that govern the relation between the two parties in respect of the execution of the enabling works at King Salman International Airport Project in Riyadh. The works shall be only executed following the issuance of future call-offs, work orders, or purchase orders. |
| The Entity with Which the Contract was Signed | King Salman International Airport Development Company |
| Date of Signing the Contract | 2026-02-18 Corresponding to 1447-09-01 |
| Contract Value | The final value shall be determined after the final measurement of the actual quantities and works executed pursuant to the future call-offs, work orders, or purchase orders issued during the validity period of the framework agreement. |
| Contract Details | The scope of works assigned to The Fundamental Installation for Electric Work Co. includes the supply, installation, testing, commissioning, and handover of all enabling works related to the mechanical, electrical, and plumbing (MEP) systems at King Salman International Airport Project in Riyadh. The agreement is based on a re-measurement method, whereby the works are executed on a call-off basis. Accordingly, the final value of the works shall be determined after measuring the quantities and the actual works executed. |
| Contract Duration | Forty-Eight (48) 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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