Saudi-listed Ladun Investment Company said its subsidiary has won an engineering, procurement, and construction (EPC) contract worth 102.57 million Saudi riyals ($27.34 million) from the Royal Commission for Jubail and Yanbu (RCJY) for a housing project.

Built Industrial Company will design and assemble the second phase of a community housing project on a 25,234 square metre land plot in Jazan City for Basic and Transformation Industries, the company said in a statement to the Saudi stock exchange.

The work includes preparing the general site for building, excavation, constructing roads and parking lots, installing drinking water, firefighting water, sewage and irrigation systems, and landscaping.

Earlier this month, Ladun said that Built Aluminium Factory (BAFCO), owned by its subsidiary Built Industrial Company, has signed a contract worth SAR70.36 million for a resort project in Amaala.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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