MIS inks SAR 39.1 mln contract with MEWA

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed on Aug. 16, a contract with the Ministry of Environment, Water, and Agriculture (MEWA) to undertake a project to develop a meteorological information system and early warning of weather conditions, according to a bourse filing.

MIS indicated that the project, as per the award notification, was valued at SAR 39.94 million, inclusive of value-added tax (VAT). However, MEWA contract determined the value of the contract at SAR 39.10 million, inclusive of 15% VAT.

The contract will extend for 24 months, starting from the receipt of the site.

This relevant financial impact will appear on financial statements as of Q3 2022 until Q3 2024.

The deal included no related parties, the statement added.

On March 27, MIS was awarded a project to develop a meteorological information system and early warning of weather conditions, for a total amount of SAR 39.9 million, including VAT, Argaam reported.