Arab Sea, ETEC sign SAR 17M contract

Arab Sea Information Systems Co. signed a contract on Feb. 24 with the Education and Training Evaluation Commission (ETEC) worth SAR 16.97 million, inclusive of value-added tax.

In a statement to Tadawul, Arab Sea said the 36-month agreement covers the operation and maintenance of technical infrastructure within the broader project for managing and maintaining technical infrastructure, data, and intelligence applications.

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The financial impact is expected to be reflected in the financial statements over the next three years, the company added, indicating that there are no related parties.

Last January, Arab Sea announced that it had won a project with ETEC for the operation and maintenance of the technical infrastructure component of the technical infrastructure and data operations project under the latter’s AI applications initiative. The project was valued at SAR 16.97 million, including VAT.