Red Sea International bags SAR 58.9 mln contracts to manufacture prefab steel structures

03/08/2022 Argaam

Logo of Red Sea International Co.

Red Sea International Co. signed two contracts with MDLBEAST Co. to manufacture and supply prefabricated steel structures, which will be assembled on-site in Riyadh, to construct two buildings for one of MDLBEAST’s upcoming festivals.

 

The contracts are valued at SAR 58.87 million, inclusive of value-added tax (VAT), according to a bourse statement.

 

The contract duration is 90 days, the statement noted.

 

The company said revenues and profits would be realized in Q3 and Q4 2022.

 

The are no related parties involved in the contracts.

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