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Rawasi Albina Investment Co. Announces Contract Sign Off with Saudi Energy Company
| Element List | Explanation |
|---|---|
| Introduction | Ruwasi Al-Bina Investment Company announces the signing of a framework agreement with the Saudi Energy Company for the execution of installation, removal, replacement, and maintenance works related to overhead and underground distribution networks for low and medium voltage up to 36 kV in the Qassim region. The total (ceiling) value of the agreement is SAR 36,320,000. The Company has provided a final bank guarantee amounting to SAR 1,816,000, representing 5% of the contract value, in compliance with the terms and conditions of the agreement. |
| Date of Announcement of the Award | 2026-04-22 Corresponding to 1447-11-05 |
| Contract Subject Matter | A contract for the installation, removal, replacement, and maintenance of overhead and underground distribution networks for low and medium voltage up to 36 kV in the Qassim region. |
| The Entity with Which the Contract was Signed | Saudi Energy Company |
| Date of Signing the Contract | 2026-04-22 Corresponding to 1447-11-05 |
| Contract Value | Framework agreement with a total (ceiling) value of SAR 36,320,000. |
| Contract Details | framework agreement includes executing installation, removal, replacement, and maintenance works for overhead and underground distribution networks for low and medium voltage up to 36 kV in the Qassim region. |
| Contract Duration | 3 Year |
| Financial Impact and the Relevant Period | The financial impact of this contract is expected to appear in the company’s financial statements starting from the second half of 2026 until the end of the contract period in May 2029. |
| Related Parties | NA |
| Additional Information | The company confirms that it will announce any work orders issued under this contract in due course. |
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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