Electrical Industries subsidiary signs SAR 66.6 mln supply contract with Al-Babtain

09/05/2023 Argaam
Logo ofElectrical Industries Co.

Logo of Electrical Industries Co.

Electrical Industries Co.'s subsidiary Saudi Power Transformers Co. signed a SAR 66.6 million deal (excluding value-added tax) with Al-Babtain Contracting Co. for the supply of electrical transformers, according to a Tadawul statement today, May 9.

 

The company also said that the contract term is 18 months, adding that there are no related parties.

 

The agreement is expected to have a positive impact on financial results for 2024, it noted.

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