TIBBIYAH subsidiary signs contract with Arabian Gulf University at SAR 142.3 million

Arabian International Healthcare Holding Co. announced that Al Faisaliah Medical Systems Co.(“FMS); a subsidiary owned 100% by “TIBBIYAH”, signed a Contract for an amount of SAR 142.3 million with Arabian Gulf University (AGU) for the carrying out and completion of the supply and installation of medical equipment and other works specified in the King Abdullah bin Abdul Aziz Medical City, (KAMC) Phase – I; Package 7 – MEDICAL EQUIPMENT, Volume I issued by ARABIAN GULF UNIVERSITY, KINGDOM OF BAHRAIN.

This project includes, but not limited to, supply, installation, testing & commissioning of all medical equipment (MEQ) including supervision, labour, equipment, materials, and medical consumable needed, noting that the financier is the Kingdom of Saudi Arabia through Saudi Fund for Development (SFD).

The company stated that the contract duration is 18 Georgian months from the date of site Handover, or receipt of the advance payment, or any other date agreed upon between the parties.

The financial impact on the company’s Financial results will appear in the First Half of 2024.