Element List	Explanation
Introduction	The Knowledge Economic City (“the Company”) announces the signing of a framework agreement with Audhah Mubarak Al Biladi and His Sons Company (ABASCO) for the execution of excavation and earthworks for number of future projects.
Date of Announcement of the Award	2026-07-13 Corresponding to 1448-01-28
Contract Subject Matter	The execution of excavation and earthworks including bulk excavation, rock excavation, trench excavation, backfilling and compaction, disposal of surplus materials, dewatering, and temporary shoring and protection works for the Company's upcoming to be identified projects. The detailed scope, quantities, technical specifications, and site requirements will be defined under the individual scope of each project and its technical specifications agreed upon in accordance with the regulations, design guidelines and requirements by competent authorities during the Contract duration.
The Entity with Which the Contract was Signed	Audhah Mubarak Al Biladi & his Sons Contracting Company (ABASCO).
Date of Signing the Contract	2026-07-13 Corresponding to 1448-01-28
Contract Value	SAR 78,300,500 excluding VAT.
Contract Details	According to the agreement terms the Contractor shall undertake the execution of excavation and earthworks including bulk excavation, rock excavation, trench excavation, backfilling and compaction, disposal of surplus materials, dewatering, and temporary shoring and protection works for the Company's upcoming to be identified projects. The detailed scope, quantities, technical specifications, and site requirements will be defined under the individual scope of each project and its technical specifications agreed upon in accordance with the regulations, design guidelines and requirements by competent authorities during the Contract duration.
Contract Duration	3 Years
Financial Impact and the Relevant Period	The contractor’s dues will be paid in installments based on monthly progress statements reflecting the work executed under the contract for each project according to the unit rate of the executed works. Accordingly, the financial impact, represented by cash outflows, will be distributed over the contract duration.
Related Parties	There are no related parties to this contract.
Additional Information	The Framework Agreement represents a strategic tool that will enable the Company to accelerate the execution of its future strategic projects by establishing fixed unit rates for excavation works over a three-year period. By consolidating excavation requirements under a single framework, rather than tendering each project separately, the Company is expected to achieve economies of scale, cost savings, and greater procurement efficiency. The Agreement will also facilitate faster site mobilization and improve the contractor's readiness to commence works promptly, thereby supporting timely project delivery and enhancing overall operational efficiency.