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Red Sea International signs SAR 246m contract with Baker Hughes

Red Sea International signs SAR 246m contract with Baker Hughes
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Riyadh – Mubasher: Red Sea International Company has penned a contract worth SAR 245.77 million with Baker Hughes Company to design, manufacture, supply, and manage remote mobile modular buildings.

The agreement holds a duration of seven years starting from 30 November 2021, according to a bourse filing on Wednesday.

The Saudi listed company noted that the contract aims to support Baker Hughes’ oil drilling operations in the Eastern region.

Revenues and profits to be generated from the signed agreement will reflect on Red Sea International’s financial statements starting from the first quarter (Q1) of 2022.