Leen Alkhair inks SAR 294.4 mln deal with Arsan Contracting to build new plant

01/11/2023 Argaam
Logo ofLeen Alkhair Trading Co.

Logo of Leen Alkhair Trading Co.

Leen Alkhair Trading Co. signed today, Nov. 1, a two-year engineering, procurement, and construction (EPC) contract worth SAR 294.42 million (VAT exclusive) with Arsan Contracting Co. to construct a new factory for the former.
 
In a statement to Tadawul, the company said Arsan Contracting will ensure the operation of the factory and its entry into service.
 
The factory's construction will positively impact Leen Alkhair's 2025 financials post-operation.
 
Board chairman, Mohammed Al Shuraim, is a related party, being the owner of Arsan Contracting. The contract is within the course of normal business operations and does not entail any preferential benefits.

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