Elm finalizes talks on HRSD project; award procedures underway

Elm Co. headquarters

Elm Co. announced the completion of discussions related to the awarding of the Social Case Survey (SCS) Project, launched by the Ministry of Human Resource and Social Development (HRSD) in cooperation with the National Center for Privatization.

In a Tadawul statement today, Dec. 4, Elm said the project shall be undertaken as a public-private partnership, under the Private Sector Participation Law.

“The awarding procedures to the company will be completed in accordance with the applicable laws,” the statement read.

The project will extend for five years, with an expected topline of 25% of the company’s gross revenues, as per the audited financial statements for 2022. The contract value, which is not fixed, depends on the number of cases surveyed.

There are no legal or financial obligations at this stage unless the contract is signed. The company will duly announce any material developments in this regard.