Element List	Explanation
Introduction	Red Sea International announces that its subsidiary has signed a Framework Agreement with King Salman International Airport Development Company in relation with the Enabling Works at King Salman International Airport in Riyadh city.
Date of Announcement of the Award	2026-02-18 Corresponding to 1447-09-01
Contract Subject Matter	A framework agreement which identifies the general terms and conditions that govern the relation between the two parties in respect of the execution of the enabling works at King Salman International Airport Project in Riyadh. The works shall be only executed following the issuance of future call-offs, work orders, or purchase orders.
The Entity with Which the Contract was Signed	King Salman International Airport Development Company
Date of Signing the Contract	2026-02-18 Corresponding to 1447-09-01
Contract Value	The final value shall be determined after the final measurement of the actual quantities and works executed pursuant to the future call-offs, work orders, or purchase orders issued during the validity period of the framework agreement.
Contract Details	The scope of works assigned to The Fundamental Installation for Electric Work Co. includes the supply, installation, testing, commissioning, and handover of all enabling works related to the mechanical, electrical, and plumbing (MEP) systems at King Salman International Airport Project in Riyadh. The agreement is based on a re-measurement method, whereby the works are executed on a call-off basis. Accordingly, the final value of the works shall be determined after measuring the quantities and the actual works executed.
Contract Duration	Forty-Eight (48) months
Financial Impact and the Relevant Period	Starting from the Q1 2026
Related Parties	N/A
Additional Information	The Fundamental Installation for Electric Work Co. is a local market leader and one of the top standalone MEP contractors delivering world class projects via end to end solutions that provide integrated design, engineering and construction services in the field of mechanical, electrical, and plumbing (MEP) works.