Amiantit signs SAR 174M contracts for subsidiaries

Saudi Arabian Amiantit Co. headquarters

Saudi Arabian Amiantit Co. signed contracts worth SAR 174 million for its wholly owned subsidiaries with several contactors to supply and install pipes for several strategic projects, according to a statement to Tadawul.

King Abdullah International Gardens (Qiddiya-Riyadh) contract was signed with Zaid Al-Hussein & Brothers Contracting Group. The 12-months contract is worth SAR 16.6 million (including VAT).

Two contracts were signed with Abdullah Al Sayegh & Sons Co. for implementation of the networks processing the Green Riyadh program—Group 5 (A) and Group 9—as well as the implementation of the second phase of the strategic plan for water in Riyadh (Contract 4 B). The first contract is worth SAR 52.5 million (including VAT) and extends for 12 months, while the second is worth SAR 26.3 million (including VAT) and extends between 10 and 12 months.

The fourth contract was signed with Construction Network Contracting Co. for the implementation of water networks in Dhahran Al-Janoub, Bisha and Sarat Obeida. The value of the two-year contract is SAR 59 million (including VAT).

Amiantit signed another contract with Bakri Ahmed Al Saab General Contracting Co. for the implementation of drinking water networks for the neighborhoods of Khamis Mushait city center (Contract 3). The value of the two-year contract is SAR 9.7 million (including VAT).

A contract for the Construction of Muhayil Asir Water Networks Project (Contract 3) was signed with Building Assets Co. for Trading and Contracting. The two-year contract is worth SAR 10 million (including VAT).

The relevant financial impact of the contracts will reflect as of Q2 2024, the statement pointed out, adding that there are no related parties.