Riyadh – Mubasher: Keir International Company has signed a contract with the Saudi Ports Authority (Mawani) to connect 10 ports with the fiber optic network.
The contract value stands at SAR 16.58 million, including the value-added tax (VAT), according to a bourse disclosure.
Keir International noted that the ports include Riyadh Port, Jeddah Islamic Port, King Abdulaziz Port in Dammam, King Fahd Industrial Port in Yanbu, and Yanbu Commercial Port. This is in addition to King Fahd Industrial Port in Jubail, Jubail Commercial Port, Duba Port, Jazan Port, and Ras Al Khair Port.
The seven-month project was awarded on 25 December 2022, while it was penned on the 26th of the month.
Meanwhile, the financial impact is projected to reflect on the income statements during the period from December 2022 until the first half (H1) of 2023.
It is noteworthy to mention that Keir International recently signed a SAR 29.89 million agreement with the Saudi government.
