Mayar Holding unit to install elevators in Egypt for SAR 64.6M

13/03/2024 Argaam

Mayar Holding unit to install elevators in Egypt for SAR 64.6M

Logo of Mayar Holding Co.

Mayar Holding Co.’s subsidiary, Egypt Gulf Elevators & Escalators Co. (EGGEEC), signed on March 12 two contracts at EGP 840 million (SAR 64.6 million excluding VAT) with Total Air Projects Co. to supply and install 1,200 elevators in 24 months, according to a statement to Tadawul.

 

These contracts will have a positive impact in the medium- and long-term, and the financial impact will appear as of Q3 2024.

 

There are no related parties to the deal, the statement noted.

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