Mayar subsidiary pens SAR 28.9 mln contract with NEOM

21/11/2023 Argaam

Mayar subsidiary pens SAR 28.9 mln contract with NEOM

Logo of Mayar Holding Co.

Mayar Holding Co. stated that its subsidiary Saudi Drip Irrigation Co. Ltd. signed on Nov. 9 a contract to carry out operation and maintenance (O&M) work at a NEOM project for a period of 24 months.

 

The contract value is SAR 28.9 million, exclusive of value-added tax (VAT), according to a Tadawul filing.

 

The relevant financial impact will be positive in the long term, the company said, adding that it is expected as of Q1 2024.

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