Riyadh — Mubasher: Advanced Industrial Supplies Company, a subsidiary of Saudi Arabian Refineries Company (SARCO), inked a subcontract on 24 September for works on the Banan 1 project.
The contract, valued at SAR 3.40 million including value-added tax, was awarded by Thabat Construction Limited.
Under the terms of the agreement, the subsidiary will handle the manufacturing, supply, painting, and installation of wooden doors and related accessories for villas within the development.
The contract duration is specified as 136 days, with delivery scheduled to continue until mid-January 2027.
The company expects the financial impact of this project to be reflected positively in its financial results starting from the third quarter (Q3) of 2026 through Q1-27.
SARCO confirmed there are no related parties involved in the transaction.
In the first half (H1) of 2026, the listed group reported a net loss of SAR 4.98 million, down 79.01% from SAR 23.72 million in H1-25.
