Riyadh – Mubasher: Filling and Packing Material (FIPCO) on Monday announced winning a contract from the Milling Company 2 for SAR 12.634 million ($3.37 million).

Under the deal, FIPCO will “produce and supply PP woven small bags for the purpose of filling flour and animal feed” at 13.2 million pieces, according to a filing to the Saudi Stock Exchange (Tadawul).

FIPCO received the Letter of Award from Milling Company 2 on Monday, 26 March.

The eight-month contract will end on 31 October 2018, while the financial impact will be reflected in FIPCO’s results for the first quarter of 2018.