Logo of Red Sea International Co. (Red Sea)
In a statement to Tadawul, the company pointed out that the project aims to design, manufacture, supply and operate accommodation facilities in the Eastern Region, to support oil exploration operations in the region.
The facilities consist of many fully furnished prefabricated units, including offices, dining facilities, laundry, sports club, mosque, etc. High-quality materials are used to withstand harsh weather conditions and requirements of constant movement to different locations.
The deal also entails full remote life support services, which include catering, laundry, housekeeping, pest control, and facility management.
The related financial impact is expected to appear starting Q4 2024, the statement added, noting that there are no related parties to the deal.
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