Mayar subsidiary enhances contract with NEOM by SAR 2.3M

16/01/2025 Argaam
Logo ofMayar Holding Co.

Logo of Mayar Holding Co.

Mayar Holding Co. announced a SAR 2.3 million increase, excluding VAT, in the contract value between its subsidiary, Saudi Drip Irrigation Co., and NEOM Co.

 

In a statement to Tadawul, the company noted that this increase represents 8% of the original contract value.

 

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It also highlighted that the financial impact of this adjustment will positively reflect on Mayar’s financial results for 2025.

 

In November 2023, Saudi Drip signed a contract with NEOM to execute operation and maintenance works for the NEOM project over 24 months, valued at SAR 28.9 million, excluding VAT, data compiled by Argaam showed.

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