Red Sea unit signs contract for project in Riyadh

19/02/2026 Argaam
Financial impact expected to start in Q1 2026

Financial impact expected to start in Q1 2026

Red Sea International Co. announced that its subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), signed a subcontract on Feb. 18 with a joint venture between Al Bawani and Urbacon Saudi Co. to execute mechanical, electrical, plumbing, and civil works for one of its projects in Riyadh.

 

The contract value represents 6.20% of the company’s total revenues for 2024, Red Sea said in a statement to Tadawul.

 

Under the contract, First Fix will supply, install, test, and deliver all mechanical, electrical, and plumbing works, in addition to related engineering works.

 

The relative financial impact of the 12-month contract is expected to start from Q1 2026.

 

According to data available on Argaam, Red Sea reported revenues of SAR 2.98 billion for 2024, of which 6.76% represents SAR 201.73 million.

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