Elm awarded SAR 300 mln project by Ministry of Environment

Logo of Elm Co.

Elm Co. announced it was awarded today, Aug. 18, a project by the Ministry of Environment, Water & Agriculture for a period of five years, with the starting date to be stated upon contract signing, according to a bourse filing.

The project is valued at SAR 299.89 million, including value-added tax.

The project is represented in implementing, developing and operating electronic tools to ensure the eligibility, eligibility drivers and necessary infrastructure to facilitate the implementation and control of disbursement mechanisms for the agricultural subsidies program (second phase).

The company also noted that it will announce any future developments in this regard, especially the date of signing the contract and its financial impact, after signing the contract by all parties as notification of the project award does not entail any legal or financial obligation.