Elm signs social case surveying contract with HRSD Ministry

Elm Co. headquarters

Elm Co. signed a contract with the Ministry of Human Resources and Social Development (HRSD) for the second phase of the Social Cases Surveying Project.

In a statement to Tadawul, Elm said the expected value of the contract stands at nearly 25% of the company’s gross revenues, based on its 2022 audited financial statements. The contract value depends on the number of cases surveyed by Elm. The contract does not include a fixed total amount.

The contract, which was signed on Jan. 17, has a five-year term effective from the signing date.

The relevant financial impact will be reflected on Elm’s financial statements through the contract term. There are no related parties to the agreement, Elm added.

Under the contract, social surveys and home visits will be provided for applicants or beneficiaries of the Social Security Program. This aims to improve the quality of services and enhance the experience of beneficiaries.

The second phase of the Social Cases Surveying Project covers 11 regions in Saudi Arabia, except for Riyadh and Hail.

In December 2023, Elm finalized talks on the project offered by HRSD Ministry in coordination with the National Center for Privatization & PPP (NCP), Argaam earlier reported.