Eastern Cement signs SAR 370 mln contract with Nesma & Partners

Eastern Province Cement Co.  announced that its branch PRAINSA Saudi for Precast Concrete signed a contract today, Oct. 26 with Nesma & Partners Contracting Co. Ltd. to execute Phase 1 of the Riyadh Avenues Mall Project, at an estimated value of SAR 370 million. 

Under the 20-month contract, the company will carry out the design, manufacturing, transportation and installation of precast elements in the project’s first phase, the company said in a statement to Tadawul. 

It added that the related financial impact on financial statements will appear starting from the first quarter of 2023 and will continue along the contract term, noting that there are no related parties. 

Established in 2007, PRAINSA Saudi Arabia is specialized in precast concrete works, and has contributed to the implementation of many projects around the Kingdom. It is 100% owned by the Eastern Province Cement.