IHR: SAR 53.9M project with Elm awarded under framework agreement

Logo of International Human Resources Co. (IHR)

International Human Resources Co. (IHR) confirmed that the award of the SAR 53.9 million project from Elm Co. came as a result of receiving a purchase order from the customer (the latter), pursuant to a framework agreement signed between the two sides on May 6, 2024.

In a statement to Tadawul, the company clarified that it has a framework agreement signed with Elm Co. on May 6, 2024 to provide human resources, which expires on May 5, 2025.

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The agreement is automatically renewed unless either party notifies the other party of its unwillingness to renew. Thus, in the absence of any notification issued by either party, the agreement has been automatically renewed, it noted.

The framework agreement stipulates that the customer issues purchase orders. Accordingly, the company received a SAR 53.95 million purchase order (VAT included) on July 7, 2025.

IHR recently stated that it had won a SAR 53.9 million project (VAT included) to provide customer customer service representatives to Elm Co., according to Argaam’s data.