Maharah seals SAR 306.4 mln contract with Saudi Binladin Group

16/08/2022 Argaam

Logo of Maharah Human Resources Co.

Maharah Human Resources Co. inked, on Aug.15, a SAR 306.41 million worth of contract with Saudi Binladin Group, according to a bourse filing.

 

Under the contract, Maharah will provide manpower services to one of Saudi Binladin Group’s major contracting projects in Makkah and Madinah.

 

The contract will extend for two years, renewable as of the start date of the first workforce group.

 

The relevant financial impact will appear on the company’s financial statements as of Q3 2022, and will continue through the term of the contract.

 

The deal granted no preferential terms and falls within the normal course of business.

 

The contract included no related parties, the statement added.

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