Maadaniyah signs SAR 34 mln contract to build valves plant

22/06/2023 Argaam

Maadaniyah signs SAR 34 mln contract to build valves plant

Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

National Metal Manufacturing and Casting Co. (Maadaniyah) signed a contract worth about SAR 34 million with Gulf Triple Contracting Co. to build a valves plant in King Salman Energy Park (SPARK), the company said in a statement to Tadawul.

 

The contract term is 12 months, starting from next July. The related financial impact will reflect on financial results for 2025.

 

The company also noted that there are no related parties.

 

In October 2021, Maadaniyah announced setting up a project to manufacture values for the oil & gas and petrochemical fields, at a cost of SAR 71 million.

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