IHR: SAR 53.9M project with Elm awarded under framework agreement

Logo of International Human Resources Co. (IHR)

International Human Resources Co. (IHR) confirmed that the SAR 53.9 million project award with Elm Co. followed a purchase order from the customer (the latter), pursuant to a framework agreement signed between the two sides on May 6, 2024.

In a statement to Tadawul, the company clarified that a framework agreement to provide human resources was inked with Elm on May 6, 2024, extending until May 5, 2025.

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An auto-renewal was granted under an evergreen clause that perpetually extends the deal for a successive term if no party provides prior written notice of termination, it noted.

Given that the framework agreement entitles Elm to issue purchase orders, IHR received a SAR 53.95 million purchase order (VAT included) on July 7, 2025.

IHR recently won a SAR 53.9 million project (VAT included) to provide customer service representatives to Elm, according to Argaam’s data.