Ladun's Built Aluminum Factory signs SAR 102 mln contracts for Amaala

Logo of Ladun Investment Co.

Ladun Investment Co. announced that Built Aluminum Factory (BAFCO), which is owned by its subsidiary Built Industrial Co., signed two contracts with the Public Investment Fund (PIF)-owned Amaala destination, totaled at SAR 102 million (VAT inclusive), according to statements to Tadawul today, Sept. 14.

The first contract is for implementing aluminum and façade works at villas, hotels, palaces and tourist resorts at Four Season Triple Bay in Amaala, which is being developed by Red Sea Global Co. (RSG) — also owned by PIF. The 357-day contract is valued at SAR 77.5 million (VAT inclusive).

The second contract is for implementing aluminum and facade works at the Six Senses – Triple Bay, also located in the Amaala Red Sea project. The contract term is 357 days and is valued at SAR 24.4 million (VAT inclusive).

The company said that a corporate guarantee was provided for the two contracts, expecting the deals to have a positive impact on its results for 2023 and 2024.