| Element List |
Explanation |
| Introduction |
Middle East Specialized Cables Company (MESC) would like to announce to its shareholders that it has been awarded contract with NPCC – SAIPEM Joint venture company through its subsidiary The Middle East specialized Cables Co. LLC (MESC - Ras AlKhaimah UAE) to supply range of its products with a value that may reach 60 million USD, equivalent to 225 million riyals, it is currently difficult to determine the exact value due to the significant material prices fluctuation, the awarded contract contain a number of terms and conditions that regulate the supply process and supply quantities, the supply period for this agreement will last for one year and several months, starting in the last quarter in year 2024 and ending in the last quarter in year 2025. The company will announce to its shareholders once the final contracts with its terms signed by both parties and any other changes that may occur to this awarded contract as immediate. |
| Date of the Award |
2024-05-30 Corresponding to 1445-11-22 |
| Counterparty |
NPCC- SAIPEM Joint venture Company |
| Contract Value |
The contract value may reach 60M USD, Equivalent to 225M SAR. It’s not currently possible to determine the exact value of the contract due to big price fluctuation. |
| Contract Details |
Awarded contract with the joint venture company comprising the National Petroleum Construction Company and SAIPEM in the United Arab Emirates to supply various products with a value that may reach 60 million dollars, equivalent to 225 million riyals, it is not possible currently to determine the exact value of the awarded contract due to the significant price’s fluctuation of materials. |
| Related Parties |
N/A |
| Additional Information |
Any Substantial developments in this regard will be announced in due course, and the financial impact will be determined later. |
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