Ladun subsidiary signs SAR 70.4 mln contract with Amaala for aluminum works

Ladun Investment Co. announced that Built Aluminum Factory (BAFCO), which is owned by its subsidiary Built Industrial Co., signed, on Oct. 5, a 451-day contract worth SAR 70.4 million worth contract with Amaala.

The contract aims at implementing aluminum and facade works at the Rosewood Hotel - Triple Bay, carried out by the Public Investment Fund (PIF)-owned Red Sea International Co.

In a statement to Tadawul, Ladun pointed out that the project is located in Al-Wajh Governorate, Tabuk Region, adding that the contract includes equipping facades of tourist resorts’ villas, hotels and palaces.

A positive impact is expected to reflect to the company’s 2023 and 2024 financial results, the statement added, noting that there are no related parties to the deal.

source : argaam