Al Yamamah Steel inks $107 mln supply deal for Dubai project
Al Yamamah Steel Industries Co. has signed a contract with Spain’s Europea de Construcciones Metalicas S.A. to supply solar steel structures to Dubai Solar Park Project - Phase IV, the company said in a bourse filing on Monday.
Under the four-year contract, valued at $106.7 million (SAR 400.3 million), the steel manufacturer will deliver the required structures as of September 2019 for an extendable period of 26 months.
“The financial impact of this contract will appear in the quarter ended September 2019 till the end of the 26 months’ supply period that can be extended,” the company said.
No related parties are involved in the deal, the statement added.