Riyadh – Mubasher: The Saudi Public Transport Company (SAPTCO) has been awarded and inked the contract of the public transport project with the Madinah Region Development Authority on 24 January.
The contract has a value of SAR 57.497 million including a 15% value-added tax (VAT) and carries a five-year duration period, according to a recent bourse filing.
The Saudi listed company noted that the project will have a positive impact on its revenues during the first half (H1) of 2022.
It is worth noting that on 23 January, SAPTCO signed a SAR 149.6 million contract to execute a public bus transport project in Dammam and Al Qatif.
