Mayar subsidiary pens SAR 28.9 mln contract with NEOM

21/11/2023 Argaam
Logo ofMayar Holding Co.

Logo of Mayar Holding Co.

Mayar Holding Co. stated that its subsidiary Saudi Drip Irrigation Co. Ltd. signed on Nov. 9 a contract to carry out operation and maintenance (O&M) work at a NEOM project for a period of 24 months.

 

The contract value is SAR 28.9 million, exclusive of value-added tax (VAT), according to a Tadawul filing.

 

The relevant financial impact will be positive in the long term, the company said, adding that it is expected as of Q1 2024.

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