SAPTCO Emirates subsidiary wins school transport contracts worth SAR 377.1 mln

12/02/2015 Argaam

Saudi Public Transport Co. (SAPTCO) said its 50 percent-owned subsidiary Saudi Emirates Transport Company (SEITCO) won two deals at a total value of SAR 377.1 million.  

SEITCO, based in the United Arab Emirates, will implement and operate student transport services in the Eastern Province and Tabuk regions in Saudi Arabia.

The four-year contracts start on August 23 during the 2015-2016 academic year, the company said in a statement to Tadawul, Saudi Arabia’s bourse.

SAPTCO expects profit to materialize from both contracts by the third quarter of 2015.

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