Al Yamamah Steel Industries Co. signed a SAR 70.12 million contract with Saudi Services for Electro Mechanic Works. Co, which is owned by shareholder Rashid Abdulrahman Al-Rashid and Sons, the company said in a statement to the Saudi bourse, Tadawul.
The one-year contract will be effective on April 1, 2017, and the financial impact will start from April onward.
It added that the contract was awarded independently and fairly and will be discussed in the nearest general assembly meeting.
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