Mouwasat signs SAR 295 mln contract for hospital project in Yanbu Industrial City

Logo of Mouwasat Medical Services Co.

Mouwasat Medical Services Co. signed on June 23 a contract valued at SAR 295 million for the construction of Mouwasat Hospital project in Al-Sawari, Yanbu Industrial City.  

In a statement to Tadawul, the healthcare services provider said the contract was awarded to Tareg Al-Jaafari Contracting Co. It includes the implementation of all architectural and construction works, along with electrical, health and mechanical works for the entire hospital project.  

The duration of the contract is 910 days from the date of the site receipt. It may be extended by a written agreement between Mouwasat and the contractor.  

The financial impact of the contract will reflect as an increase in non-current assets from the third quarter of 2022. 

Any further related updates will be disclosed in due course, the statement noted, adding that there are no related parties to the contract.