Naseej Tech says MIS purchase order slashed to SAR 18.5M

Logo of Naseej for Technology Co.

Naseej for Technology Co. announced that value of the purchase order received from Al Moammar Information Systems Co. (MIS) was reduced to SAR 18.45 million (including VAT), from SAR 60.80 million, according to a mutual agreement.

In a Tadawul filing, Naseej Tech said project execution will commence as of the date of receipt of the amended purchase order today, Dec. 29.

The company also noted that no contract will be executed between the two parties, and that the purchase order, together with its terms and conditions, as well as the terms and conditions set forth in Naseej Tech’s technical proposal and financial proposal, will constitute the basis for executing the works related to the project.

According to data available with Argaam, Naseej Tech was awarded, on Nov. 23, a subcontract agreement worth SAR 60.8 million with MIS.

The project entails the provision of IT support and managed services solutions to Princess Nora bint Abdulrahman University.