Riyadh – Mubasher: The Fundamental Installation for Electric Work Company Limited (First Fix), a subsidiary of Red Sea International Company, signed a SAR 167 million agreement with Modern Building Leaders Company.
First Fix will handle the execution of mechanical, electrical, and plumbing (MEP) works for one of Modern’s projects, according to a bourse filing.
The two entities inked the deal on 19 August 2024 for 36 months.
Red Sea International expected that the joint project would reflect on its income statements during the third quarter (Q3) of 2024.
In April, First Fix secured a SAR 196.10 million loan from Saudi Awwal Bank (SAB) to fund the purchase and import of goods for The AMAALA Triple Bay - Integrative Wellness Resort & Medical Residence.
