Rawasi Albina inks binding MoU with Chinese firm at SAR 17.3 mln

09/05/2023 Argaam
Logo ofRawasi Albina Investment Co.

Logo of Rawasi Albina Investment Co.

Rawasi Albina Investment Co. signed on May 8 a binding memorandum of understanding (MoU) with China Saudi Communications Service Ltd Co. to replace the existing electrical ring main units (RMUs) with smart field equipment, according to a statement to Tadawul.   

 

The 16-month MoU is valued at SAR 17.28 million, including VAT, the company said, adding that it received orders to start the implementation. 

 

The relevant financial impact could appear on H2 2023 financials for a period of one year. The MoU has no related parties, the statement added.   

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