Almuneef awards SAR 7.5 mln contract to purchase trucks

Logo of Almuneef Company for Trade, Industry, Agriculture and Contracting

Almuneef Company for Trade, Industry, Agriculture and Contracting announced the award of a SAR 7.5 million worth contract with the Global Truck Exhibition Co. to purchase Mercedes trailer trucks.

In a statement to Tadawul, the company pointed out that the contract includes the purchase of 20 Mercedes 2021 trucks, models1851, 1842 and 1845.

The purchase will be made in installments, where 50% will be paid upon award, 40% upon providing the company with a copy of the trucks’ registration papers, and 10% upon the arrival of all of the 20 trailers to the Kingdom.

The contract stipulates that the trucks shall be compatible with all required technical specifications and standards, in accordance with its strategic plan to modernize its transportation fleet through its internal funding resources.

The financial impact is expected to appear by the end of the fourth quarter, noting that the Almuneef’s Chairman, Hamad Almuneef, is Global Truck Exhibition’s CEO, the statement noted.