Red Sea Signs Two Contracts with MDLBEAST to Manufacture and Supply Steel Units worth SR59 mln

Red Sea International Company (RSI) announced on Wednesday the signing of two contracts with MDLBEAST to manufacture and supply prefabricated steel structures. The contract value is SR 58.87 million (incl. VAT).

Red Sea International Company (RSI) was awarded two contracts to manufacture and supply prefabricated steel structures for MDLBEAST, which will be assembled on site in Riyadh to construct two buildings for one of its upcoming festivals.

The company said in a statement today that the financial impact is to achieve revenues and profits during the third and fourth quarters of 2022, indicating that there are no related parties within the contract.

It is worth noting that the Red Sea International Company (RSI) is a leading Saudi company in the field of providing modular solutions and construction of high-quality and environmentally friendly administrative and residential complexes and field hospitals in very short periods and establishing the necessary infrastructure for various sectors, in addition to operating these complexes and providing all living requirements for guests during occupancy including electric energy, pure water, food supply, and wastewater treatment. the company uses high-quality local products and manufactures modular units in its local, regional and international manufacturing facilities to meet the housing requirements, catering and food services for various strategic projects, especially those initiatives emanating from the ambitious vision of the Kingdom of Saudi Arabia 2030.