Riyal Motors signs SAR 54.5M agreement to extend vehicle leasing contract

Logo of Riyal Investment & Development Co.

Riyal Investment & Development Co. signed on July 30 an agreement to extend the contract for leasing light vehicles to Saipem Snamprogetti Saudi Arabia Limited, for 33 months.

 

The company added in a statement on Tadawul that the contract value increased from SAR 36.4 million to SAR 54.5 million, including VAT.

 

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The contract is expected to have a financial impact as of Q3 2024, the statement clarified, noting that there are no related parties.

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