Elm signs SAR 69.9 mln contract for Makkah Route Initiative execution

14/06/2023 Argaam
Elm Co.headquarters

Elm Co. headquarters

Elm Co. signed, on June 13, a five-month contract with the Ministry of Interior for the execution of the Makkah Route Initiative at a value of SAR 69.93 million, inclusive of value-added tax (VAT).

 

In a statement to Tadawul, Elm pointed out that a positive financial impact is expected to reflect on the company’s results as of Q2 2023.

 

Chairman Raed Abdullah bin Ahmed and board member Abdullah Al-Rabiah are related parties to this deal with indirect interests, the statement added. 

 

The company has recently received a letter of award from the Ministry of Interior for the execution of the Makkah Route Initiative, Argaam earlier reported.

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