Red Sea subsidiary signs SAR 318.9M contract

Logo of Red Sea International Co.

Red Sea International Co.’s subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), signed a SAR 318.9 million contract with Modern Building Leaders Co. (MBL) today, Dec. 24.

 

In a Tadawul statement, Red Sea said that the contract includes the supply, installation, testing, and calibration of mechanical, electrical, and plumbing (MEP) systems for one of its projects.

 

For more news and details on the projects

 

The 13-month contract is expected to begin reflecting on the company’s financials in Q4 2024, the statement added.

 

MBL, a specialist in MEP contracting, provides integrated design, engineering, and construction services.

 

The deal includes Red Sea and MSB Holding Co. as related parties.

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