Maharah Signs Contract to Provide Manpower Services with Saudi Binladin for SR306.4 mln

Maharah Human Resources Company announced the signing of a contract at a value of SR306.4 million to provide manpower services with Saudi Binladin Group, where manpower services will be utilized in one of the group’s major projects.
Manpower services of professional and non-professional employment will be provided for one of the group’s major projects in the field of contracting in several locations in Mecca and Medina for a renewable period of two Gregorian years as of the date of commencement of the work of the first group of manpower.
The financial impact on the Company’s financial statements is expected to appear from the third quarter of 2022 and will continue during the duration of the contract.
The Company hereby confirms that no preferential treatment has been given in this Contract and that it is in the normal business of the Company.