Red Sea International Subsidiary Wins SAR 352.6M Contract

RED SEA

RED SEA

4230.SA

0.00

Red Sea International announced on June 22, 2026 that its subsidiary, The Fundamental Installation for Electric Work Co., has signed a SAR 352,602,457.30 subcontract agreement with Salini Saudi Arabia Co. Ltd. for a Diriyah City project. The contract involves the execution of mechanical, electrical, and plumbing (MEP) works including engineering, supply, installation, testing, commissioning, and handover services. The project has a duration of 454 calendar days with financial impact starting from Q2 2026, and the contract value excludes Value Added Tax (VAT).

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96283&anCat=1&cs=4230&locale=ar

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