Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) announced that its subsidiary won a contract with a joint venture (JV)comprising the National Petroleum Company (NPCC) and SAIPEM in the UAE.
MESC - Ras AlKhaimah UAE will supply a range of its products with a value that may reach $60 million (SAR 225 million), according to a bourse disclosure.
The supply period for the agreement will last for one year and several months, starting in the fourth quarter (Q4) of 2024 and ending in Q4-25.
The Tadawul-listed firm highlighted that its unit was awarded the project contract on 30 May, adding that it will disclose any other developments regarding the deal once the final contracts with its terms signed by both parties.
Last April, MESC obtained a SAR 100 million loan from Al Rajhi Bank to boost its working capital.
