Riyadh – Mubasher: Al Yamamah Steel Industries Company has inked two contracts worth SAR 292 million ($78 million) with Hyundai Engineering & Construction Co to supply steel towers for electricity transmission lines.

Under the 12-month contracts, Al Yamamah will supply steel towers for the construction of a 380 KV line between the new Afif BSP and Mahd BSP, according to a bourse filing on Tuesday.

The company will also provide steel towers for the construction of a 500 KV line of electricity interconnection project between Saudi Arabia and Egypt.

The contracts' financial impact will be registered as of the fourth quarter (Q4) of 2022 until the fourth quarter (Q4) of 2023.