Al Yamamah Steel signs Two Contracts with Branch of HYUNDAI ENGINEERING & CONSTRUCTION CO, LTD

Al Yamamah Steel Industries Co. announced on Tuesday two contracts sign off to supply steel towers with Total amount USD78 Million equivalent to SAR 292 Million.

The company said the first contract includes supply of steel towers for the construction of 380 KV line between the new Afif BSP and Mahd BSP and the second contract includes the the supply of steel towers for the construction of a 500 KV of electricity interconnection project between The Kingdom of Saudi Arabia and Egypt -phase III – western region.

The contract duration will be 12 months, while the financial impact and the relevant period fourth quarter of FY22 to Fourth quarter FY23.