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Al Babtain unit inks $121.5m supply contract with Elsewedy

Al Babtain unit inks $121.5m supply contract with Elsewedy
The financial impact is expected to be reflected on the company’s financial statements for the first quarter of 2017
ALBABTAIN
2320
-2.26% 18.20 -0.42
Elsewedy Electric
SWDY
-4.43% 31.05 -1.44

Riyadh – Mubasher: Al Babtain Power and Telecommunication Company announced on Monday that its subsidiary, Al Babtain Power and Telecommunication - Egypt, has signed a supply contract worth $121.5 million with Elsewedy Electric Company for manufacturing galvanized iron towers.

The contract’s period starts from the signing date to 31 December 2017, the financial impact is expected to be reflected on the company’s financial statements for the first quarter this year, according to a bourse filing.