Saudi-listed Keir International secures over $13.3mln deals for two projects

Saudi-listed telecom Keir International has secured contracts worth more than SAR50 million ($13.3 million) for projects in two cities, according to separate disclosures on Thursday.

The two contracts were signed with the National Grid-SA and Saudi Electricity Company on Thursday, the company said in filings on the Saudi Stock Exchange (Tadawul).

In the first deal, Keir International will undertake high-voltage underground cable works for National Grid-SA in Riyadh for approximately SAR24.3 million.

The second contract involves another high-voltage underground cable works for Saudi Electricity Company’s Inter-Tie Project in Al Khobar, for a total cost of around SAR26.3 million.

Keir works with businesses in the IT and communications industry, as well as utilities, including those involved in power and electricity generation.

SOurce: Zawya