MESC Ras Al Khaimah wins project in UAE

30/05/2024 Argaam
Logo ofMiddle East Specialized Cables Co. (MESC)

Logo of Middle East Specialized Cables Co. (MESC)

Middle East Specialized Cables Co.'s (MESC) UAE-based subsidiary MESC Ras Al Khaimah won a project with an Emirati joint venture (JV), comprising National Petroleum Construction Co. (NPCC) and Saipem S.p.A., for the supply of various products worth up to $60 million (SAR 225 million).

 

The exact value of the contract cannot be determined at present due to the significant fluctuation in material prices, MESC said in a Tadawul filing today, May 30.

 

For more news and details on the projects

 

Several conditions and provisions regulating the supply process and volumes are entailed under the agreement. The supply period starts in the last quarter of 2024 and ends in late Q4 2025, it further stated.

 

MESC shareholders will be informed of the move upon signing the final supply contract by both parties, including all its terms. The company will also disclose any relevant developments in due course.

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