Saudi: Rawasi Albina announces over $3.6mln deal to develop project

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The contract holds a duration of 12 months and was signed on 11 July 2024

Staff Writer, Mubasher

July 17, 2024

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Riyadh – Rawasi Albina Investment Company has signed a contract valued at SAR 13.62 million, including the value-added tax (VAT), to carry out the infrastructure works of Al Ghurub community project in Medina.

The contract holds a duration of 12 months and was signed on 11 July 2024, according to a bourse filing.

Rawasi Albina noted that it signed off the deal with a private sector entity, adding that the financial impact is expected to reflect during the period from the second half (H2) of 2024 until H1-25.

In June this year, the listed company penned a SAR 11.92 million contract with Telecommunications Towers Company (TAWAL) for a six-month duration.

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