Saudi-listed telecom Keir International has secured contracts worth more than SAR50 million ($13.3 million) for projects in two cities, according to separate disclosures on Thursday.

The two contracts were signed with the National Grid-SA and Saudi Electricity Company on Thursday, the company said in filings on the Saudi Stock Exchange (Tadawul).

In the first deal, Keir International will undertake high-voltage underground cable works for National Grid-SA in Riyadh for approximately SAR24.3 million.

The second contract involves another high-voltage underground cable works for Saudi Electricity Company’s Inter-Tie Project in Al Khobar, for a total cost of around SAR26.3 million.

Keir works with businesses in the IT and communications industry, as well as utilities, including those involved in power and electricity generation.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com