Logo of Ladun Investment Co.
Ladun Investment Co.’s subsidiary, Built Industrial Co., signed a contract worth SAR 169.5 million (including VAT) in Jazan City for Primary & Downstream Industries from the Royal Commission for Jubail & Yanbu (RCJY) to construct prefabricated industrial buildings.
In a statement to Tadawul today, March 7, the company said the contract runs for 730 days. It covers the comprehensive development of a 154,500-square-meter (sqm) land area in the city.
This comes under a procurement and construction (PC) contract to build 38 prefabricated buildings of different types, in addition to two properties for security guards with an approximate area of 38,760 sqm, the statement added.
The contract also entails work on site preparation, including drilling and backfilling work, paving and settlement, road planning, indicative plates, sidewalks, lighting, afforestation, and other appurtenant work (dry and wet).
The deal is expected to have a positive impact on Ladun’s financial statements for 2024 and 2025. There are no related parties to the deal, it added.
According to data compiled by Argaam, in November 2023, Ladun announced that its subsidiary Built Industrial was awarded the project from RCJY.
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