Riyadh – Mubasher: Al Babtain Power and Telecommunication Company signed a contract with Hyundai Engineering & Construction Company Limited at a value of SAR 777.22 million.
The 24-month deal covers providing Head Transmission Line Steel Towers for 500kV HVDC OHTL, according to a bourse disclosure.
The supply for the project will start in the third quarter (Q3) of 2025, while the agreement is expected to reflect on the company’s financial results in Q1-26.
It is worth highlighting that the two companies inked the deal on 25 November 2024.
In the nine-month period that ended on 30 September 2024, Al Babtain Power logged net profits worth SAR 180.80 million, higher by 83.92% year-on-year (YoY) than SAR 98.30 million.
