Neft Alsharq inks SAR 18M contract with Ministry of Interior

Neft Alsharq Co. for Chemical Industries signed on June 9 with one of the Ministry of Interior affiliated departments, a three-year contract worth more than SAR 18 million, for the supply oils and greases, the company said in a statement to Tadawul.

The supply award notification was received, the statement confirmed, noting that actual work started on June 23.

Moreover, the company pointed out that the financial impact will be reflected to the company’s financials until June 22, 2027, indicating that the value of the financial impact is equivalent to the contract value, which is 27% of the company’s 2023 revenues.

There are no related parties, the statement concluded.