Batic subsidiary inks SAR 116.1 mln contracts with Saudi Binladin Group

09/12/2021 Argaam

Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co.’s board of directors approved today, Dec. 9, Arabian Security & Safety Services Co.’s (AMNCO) signing of two contracts at an estimate value of SAR 116.1 million, with Saudi Binladin Group for the Holy Mosque expansion project and to provide services to Al Shamiya warehouses project, according to a bourse filing.

 

The contracts, which do not include value-added tax (VAT), begin as of Dec. 1, 2021 until June 30, 2025.

 

The contract will generate revenue as of December 2021.

 

The contract has related parties, namely, Ahmed Mohammed Al Sanea, as the Chairman of Batic board of directors, Chairman of AMNCO’s board and managing director of Saudi Binladin Group.

 

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