Red Sea International Announces that its Subsidiary, The Fundamental Installation for Electric Work Co., Has Signed a SAR 352.6 Million Subcontract Agreement with Salini Saudi Arabia Co. Ltd. in a Diriyah City Project

Element List	Explanation
Introduction	Red Sea International Announces that its Subsidiary, The Fundamental Installation for Electric Work Co., Has Signed a SAR 352.6 Million Subcontract Agreement with Salini Saudi Arabia Co. Ltd. for the Execution of MEP Works in a Diriyah City Project
Date of Announcement of the Award	2026-06-22 Corresponding to 1448-01-07
Contract Subject Matter	Subcontract Agreement for the execution of mechanical, electrical, and plumbing (MEP) works including engineering, supply, installation, testing, commissioning, and handing-over.
The Entity with Which the Contract was Signed	Salini Saudi Arabia Co. Ltd.
Date of Signing the Contract	2026-06-22 Corresponding to 1448-01-07
Contract Value	(SAR 352,602,457.30) Three Hundred Fifty-Two Million Six Hundred and Two Thousand Four Hundred Fifty-Seven Saudi Riyals and Thirty Halalas (excluding the Value Added Tax (VAT))
Contract Details	The scope of works assigned to The Fundamental Installation for Electric Work Co. includes engineering, supply, installation, testing, commissioning, and handover of all mechanical, electrical, and plumbing (MEP) works
Contract Duration	Four Hundred Fifty-Four (454) calendar days
Financial Impact and the Relevant Period	Starting from Q2 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.