Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed six contracts for its 100%-owned subsidiaries with several contractors at a total value of SAR 174 million.
The contracts include supply and installation of pipes for several strategic projects, according to a bourse filing.
The agreements' durations range between 10 to 24 months. Their financial impact is forecast to appear in Amiantit’s financial reports as of the second quarter (Q2) of 2024.
The six contracts include the King Abdullah International Gardens project in Qiddiya – Riyadh; implementation of the networks processing the Green Riyadh programme; implementation of the second phase of the strategic plan for water in Riyadh; and projects for the implementation of water networks in Dhahran Al-Janoub, Bisha and Sarat Obeida.
The agreements also cover the implementation of drinking water networks for the neighbourhoods of Khamis Mushait city centre and the construction of the Muhayil Asir Water Networks project.
Contracts were signed with Zaid Al-Hussein & Brothers Contracting Group, Abdullah Al Sayegh & Sons Company, Construction Network Contracting Company, Bakri Ahmed Al Saab General Contracting Company, and Building Assets Company for Trading and Contracting.
In February, Amiantit inked an agreement with Saudi National Bank (SNB) to settle a SAR 313 million debt.
Amiantit announced a plan to increase capital by SAR 346.50 million in September 2023.
