TAM inks framework agreement with government entity

Logo of Tam Development Co.

TAM Development Co. signed, on March 18, a three-year framework agreement worth SAR 200 million (including VAT) with a government entity.

The scope of the agreement comprises providing the needed consulting services along with digital solutions to design and manage a project for a government entity, according to a statement to Tadawul.

No related parties are involved in the deal, which is expected to have a financial impact starting from Q3 2024, the statement added.

The letter of award was issued on Jan. 23, 2024, and the signed copy by both parties was received on March 22, the company noted.

According to data compiled by Argaam, the company announced in January that it was awarded a SAR 200 million contract, inclusive of VAT, by a government entity under a framework agreement.