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Al Kathiri Holding’s unit wins SAR 21m project in Saudi capital

Al Kathiri Holding’s unit wins SAR 21m project in Saudi capital
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Riyadh – Mubasher: Al Kathiri Holding Company announced that its subsidiary Msandh Al Emdad Company has been awarded a project with the Presidency of State Security to establish a building in Riyadh.

The contract, which value stands at SAR 20.99 million including the value-added tax (VAT), covers the supply and implementation of structural, architectural, mechanical, electrical, and systems works for the building, according to a bourse disclosure.

Msandh Al Emdad was awarded the contract on 9 April 2024, while the signing date is expected to be 8 May this year.

It is worth noting that the listed firm Al Kathiri Holding is focused on the basic materials, cement, and concrete sectors as well as modern technical solutions in building and construction.

The company is trading on the Saudi Exchange (Tadawul) with a capital totalling SAR 113.02 million distributed over 226.04 million shares at a par value of SAR 0.50 a share.

As for the financial results, Al Kathiri Holding turned to net losses worth SAR 4.11 million in 2023 from net profits amounting to SAR 1.77 million in 2022.