PHOTO
Saudi telecommunications and utility services company Keir International has bagged a SAR 76.9 million ($20.5 million) deal from Saudi Electricity Company.
The contract is for establishing a ground line between two stations in Wadi AD Dwaser in the southern region, according to a disclosure on the Saudi Stock Exchange (Tadawul), where the company’s shares are traded.
The project involves the installation of high voltage 132 kV underground cables, as well as substation and communication works, among others.
The company, which specialises in turn-key solutions in civil works involving telecoms, electrical and security projects, said the contract for the project is expected to be signed in June this year.
Keir’s net profit for the year ended December 31, 2023 fell to SAR 9.3 million, representing a 52.9% decline from a year earlier.
(Writing by Cleofe Maceda; editing by Seban Scaria)
