Al-Babtain Power Telecommunication Co. has signed a contract worth $69.5 million (SAR 260.7 million) with Spain’s Europea de Construcciones Metalicas S.A. to concentrated solar power (CSP) steel structures to Mohammed bin Rashid Al Maktoum Solar Park – Phase IV.
The contract, awarded on Mar. 11, 2019, will be valid for 31 months starting from the signing date, the company said in a bourse filing on Monday.
The financial impact of this contract is likely to show in Q4 2019, Al-Babtain added, noting that no related parties are involved in the deal.
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