Al-Babtain subsidiary signs 2 contracts worth SAR 195 mln to supply galvanized steel towers

05/10/2022 Argaam
Logo ofAl-Babtain Power and Communications Co.

Logo of Al-Babtain Power and Communications Co.

Al-Babtain Power and Telecom Co.’s subsidiary, Al-Babtain Power & Telecom Egypt (ABPTE), signed a $28 million (SAR 105 million) contract with Giza Cable Industries on Oct. 4.  

 

In a statement to Tadawul, the company said the contract is to supply 500 kilovolt (KV) galvanized steel towers for electrical interconnection project between Egypt and Saudi Arabia.  

 

The impact of the 12-month contract is expected to show positively on Q3 2023 financial results, the statement noted, adding that there are no related parties. 

 

In a separate statement, Al-Babtain said ABPTE signed another contract, valued at $24 million (SAR 90 million) with Elsewedy Electric T&D on Oct. 4.

 

The contract is for the supply of 400 KV galvanized steel towers for a project involving three lines for the transmission of electric power in Morocco.

 

The 12-month contract is expected to reflect positively on Q2 2023 financial results, the statement noted, adding that there are no related parties.

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