The Red Sea signs a contract with Neom for 78 million riyals

The Red Sea International Company announced the signing of a contract for the design, supply, and implementation of a number of prefabricated housing units, offices, and equipment within the NEOM project.

The company explained that the contract period is 4 months, with a value of about 78 million riyals.

It indicated that the contract includes engineering design, supply and implementation of housing units and administrative offices, and equipping them for the use of NEOM employees to help implement its project.

Red sea company also pointed out that the financial impact is to achieve revenues and profits that are recorded in stages starting during the fourth quarter of 2020 and up to the first quarter of 2021. The Red Sea confirmed that there are no related parties within the contract.

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