Elm signs Makkah Route Initiative contract with Ministry of Interior at SAR 70 million

Elm company announced signing a contract for the execution of the Makkah route initiative with the Ministry of Interior (related party) at a value of SAR 69.9 million (inclusive VAT), with a contract duration of 5 months starting from the date of handing over the site.

The company stated on Wednesday on Tadawul that the financial impact of this contract is expected to be reflected in the Company’s results starting from Q2-2023. Noting that the Chairman of the Board, Mr. Raed Abdullah bin Ahmed and the Board Member Mr. Abdullah Abdulrahman Alrabeah, have indirect interest therein.

With reference to the announcement of Elm Company in Tadawul website on 06.06.2023 regarding receiving a notification of a contract award for Makkah Route Initiative with the Ministry of Interior.