Saudi Ground Services Co. (SGS) signed a contract with Saudi Airlines Catering Co. (SACC) on Nov. 24, according to a bourse statement.
As part of the two-year contract, SACC will provide catering services to SGS at some of its residential complexes and at work sites inside airport terminal in Jeddah, Riyadh, Dammam, and Madinah.
The estimated value of the contract is SAR 51 million.
The contract is expected to contribute to the sustainability of the company's business and enhance its work. It is expected to impact SGS financial results starting Q4 2021.
Con Korfiatis and Fahd Bin Hamza Cynndy are related parties, the statement noted.
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