Logo of Red Sea International Co.
Red Sea International Co. signed, on Nov. 6, a contract worth SAR 43.9 million (VAT exclusive) with Mubarak Marei Al Saloumi Contracting Co., to construct administrative buildings for the Amiral project in Jubail.
In a statement to Tadawul, the company pointed out that the contract includes high-spec manufacture, supply and installation of prefabricated buildings, including office units and the project support buildings, within the construction framework of Amiral Complex, a future petrochemical expansion facility at the SATORP refinery.
The five-month contract will be effective as of the date of the executive drawings approval.
A positive financial impact is expected to reflect starting from the fourth quarter of 2023, the statement added, noting that there are no related parties to the deal.
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