Saturday, 2 March 2024

Elm Announces Conclusion of Negotiations for Social Case Surveying Project with Human Resource and Social Development Ministry


Elm Company announced on Monday that it closed the negotiations related to the Social Case Surveying Project tendered by the Ministry of Human Resource and Social Development in cooperation with the National Center for Privatization as one of the public-private partnership projects in accordance with the Private Sector Participation Law.

In a statement on Tadawul, the company announced that based on the announcement published by the Ministry, the awarding procedures to the company will be completed in accordance with the applicable laws.

It should be noted that the duration of the project contract will be five years, with a total expected revenue of around 25% of the company’s revenues as per the audited annual financial statements for the year 2022. The agreement does not specify a lump sum, and its value is determined by the number of the surveyed cases.

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There is no legal or financial obligation towards the company during this stage unless the contract is signed, and the company will announce any material developments in this regard in accordance with the relevant rules and regulations.