Rawasi Albina signs SAR 29 mln contract with SEC

23/08/2023 Argaam
Logo ofRawasi Albina Investment Co.

Logo of Rawasi Albina Investment Co.

Rawasi Albina Investment Co. signed today, Aug. 23, a contract with Saudi Electricity Co. (SEC) to construct a new 13.8Kv switching station No. 85259 for feeding Alouja Palace in Riyadh City, the company said in a statement to Tadawul.  

 

The total value of the contract is SAR 28.75 million, including value-added tax (VAT).   

 

The contract term is 18 months, the company said, adding that the related financial impact will reflect on its financial results during Q2 2023 for a period of one year.   

 

There are no related parties to the deal, the statement said.  

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