Red Sea International signs SAR 60.5 mln modular buildings contract with TRSDC

18/01/2022 Argaam
Logo of Red Sea International Co.

Logo of Red Sea International Co.

Red Sea International Co. (RSI) signed today, Jan. 18, a SAR 60.5 million contract to design, manufacture, supply and install modular buildings to support The Red Sea Development Co.’s (TRSDC) construction activities on Sheybarah and Ummahat Al Shaikh islands.

 

The contract duration is 194 days, the company said in a bourse filing.

 

The contract consists of various types of modular units, which can be used as accommodations or offices. These units will be fully furnished to provide all the requirements for the crew working on the construction site.

 

Revenues and profits will be realized starting Q1 2022.

 

There are no related parties in the contract, the statement noted.

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