Riyadh — Mubasher: Naseej for Technology Company was awarded a project to operate and manage the technical office for process engineering and business analysis projects for Elm Company.
The contract is valued at SAR 5 million, including value-added tax.
The project award was finalized on 4 October, with the formal contract signing expected to take place on 5 November.
Under the terms of the agreement, Naseej for Technology will provide specialized technical and analytical oversight for Elm's engineering initiatives.
The company disclosed a related interest involving board member Fares bin Ibrahim Al Hamid, who holds an indirect interest in the contract due to his position as a board member at Elm.
The agreement was reached within the ordinary course of business and does not include any preferential terms. Documentation for the award was completed on 5 October.
In August, Naseej for Technology’s Moroccan subsidiary signed a SAR 4.05 million contract with Rabat Region Development Company.
