Saudi-based Rawasi Al Bina Investment Company has announced the signing of a framework agreement with Saudi Energy Company for the successful installation, removal, replacement, and maintenance works related to the low- and medium-voltage overhead and underground distribution networks of up to 36kV in the Qassim region. 

The total (ceiling) value of the agreement is SAR36.3 million ($9.6 million).

Rawaisi has provided a final bank guarantee amounting to SAR1.8 million, representing 5% of the contract value, in compliance with the terms and conditions of the agreement.

The entire contract work will be completed within three years, said Rawasi in its filing to Saudi bourse Tadawul.

The financial impact of this contract is expected to appear in the company’s financial statements starting from the second half of 2026 until the end of the contract period in May 2029, it added.-TradeArabia News Service