SENAAT subsidiary signs SAR 348.7M contract with Qatari company

Egypt-based Zamil Structural Steel Co., a wholly owned subsidiary of Advanced Building Industries Co. (SENAAT), signed a contract with Elegancia Steel, headquartered in Qatar, to design, manufacture, and supply steel structures and insulated panel cladding works for Baladna Co. in Algeria.

The contract value amounts to SAR 348.7 million, excluding value-added tax.

In a statement to Tadawul, SENAAT said the award falls within the initial package of contracts for the execution of part of the Baladna project in Algeria.

The project is a strategic investment in the food security sector aimed at establishing a major powdered milk production facility in the country.

There are no related parties to the deal, the statement added.

SENAAT added that it will announce any further developments in due course, particularly after receiving the final contract duly signed by all relevant parties.