TAM receives award letter for PEP project

11/11/2024 Argaam
Logo ofTAM Development Co.

Logo of TAM Development Co.

TAM Development Co. secured a project award letter for the Pilgrim Experience Program (PEP), valued at over 5% of the company’s total annual revenue, according to its 2023 audited financial statements.

 

In a statement to Tadawul, the company said the agreement aims to provide consulting services and support project implementation for the PEP. The contract is expected to be signed on Jan.10, 2025.

 

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The company expects the financial impact to begin in the first quarter of 2025 and noted that no related parties are involved.

 

According to data available with Argaam, TAM's annual revenue for 2023 was SAR 188.4 million, with 5% estimated to be approximately SAR 9.42 million.

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