Saudi: Red Sea International pens $400mln agreement with Modern

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First Fix, a subsidiary of Red Sea International Company, will supply, install, and execute mechanical, electrical, and plumbing works for one of Modern’s projects

Staff Writer, Mubasher

September 19, 2024

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Riyadh – The Fundamental Installation for Electric Work Company Limited (First Fix) inked a SAR 1.52 billion deal with Modern Building Leaders Company, according to a bourse filing.

First Fix, a subsidiary of Red Sea International Company, will supply, install, and execute mechanical, electrical, and plumbing (MEP) works for one of Modern’s projects.

The awarding and signing dates for the 19-month agreement were 11 July 2024.

Meanwhile, Red Sea International expects that the financial impact of this project will start reflecting during the third quarter (Q3) of 2024.

On 19 August 2024, First Fix penned a SAR 167 million contract with Modern.

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