Elm awarded SAR 57.7 mln contract to implement Ministry of Interior project

07/08/2022 Argaam

Logo of Elm Co. 

Elm Co. said it was awarded a contract by the Ministry of Interior, on Aug. 4, for the execution of Makkah Route Initiative.

 

The contract is valued at SAR 57.66 million, inclusive of value-added tax (VAT), the company said in a bourse filing today, Aug. 7. 

 

The contract is a related-party transaction as Elm Chairman Raed bin Ahmed and board member Abdullah Alrabeah have indirect interests in the deal. 

 

Any future updates will be announced in due course, particularly the contract signing date and its financial impact, the statement added.

 

This award notification does not entail any legal or financial obligation unless the contract is signed, the Saudi-listed company noted.

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