The National Shipping Company of Saudi Arabia (Bahri) signed, on Nov. 2, a framework contract worth SAR 300 million with the Presidency of State Security to be the official carrier of the presidency and its sectors, according to a bourse statement.
The five-year deal will have an impact on the company’s financial results starting Q4 2020. However, the impact cannot be determined as it is related to the actual shipping business.
Bahri has been operating in maritime transport for over 40 years and acts as a shipping broker worldwide, as well as specializes in transporting general cargo and business equipment.
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