Zamil Industrial subsidiary signs SAR 44 mln AC equipment supply contract with Tatweer Buildings

Logo of Zamil Industrial Investment Co.

Zamil Air Conditioners and Home Appliances Co., a wholly-owned subsidiary of Zamil Industrial Investment Co. (Zamil Industrial), signed a contract with Tatweer Buildings Co. for SAR 44 million.

The contract is in line with supporting national industries and local products.

In a statement to Tadawul today, Aug. 30, the company said that the contract duration is three months.

Zamil Air Conditioners and Home Appliances Co. will manufacture and supply more than 13,570 air conditioners (ACs) of different sizes and refrigerating capacities, which will be used in schools affiliated with the Ministry of Education across Saudi Arabia. 

The contract is expected to positively impact the company’s financial results for 2021.

The contract’s terms and conditions were set on a purely commercial basis and within the normal business context. It did not include any preferential terms, the statement noted.