SARCO affiliate signs SAR 100M construction contract
- Source
- Argaam - Company Disclosures
- Source link
- https://www.argaam.com/en/article/articledetail/id/1930611
- Published
- 2026-08-19 17:18:00
- Discovered by ProcIntel
- 2026-08-19 15:47:17
- Category
- Supplier Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
<p><img src="https://argaamplus.s3.amazonaws.com/8b92dae0-ac55-4996-8ada-aa6779b17aa2.png"></p> <p class="ckeCaption" >SARCO’s affiliate signed an estimated SAR 100 million contract with Multinational Education</p> <hr> <p >Saudi Arabian Refineries Co. (<a href="https://www.argaam.com/en/tadawul/tasi/sarco" target="_blank">SARCO</a>) stated that its 35%-owned affiliate, Raya Al-Tajdeed Contracting Co., signed a contract with Multinational Education Co. to carry out construction and finishing works for the latter's projects in Riyadh.</p> <p ></p> <p >In a statement to <strong>Tadawul</strong>, SARCO said the 24-month contract is estimated at SAR 100 million.</p> <p ></p> <p >The financial impact of the contract is expected to begin showing in Q4 2026, the company said.</p> <p ></p> <p >SARCO noted that the contract involves related parties, as Managing Director Mohammed Daboul is an executive board member of Ithraa Holding Co., the ultimate owner of Multinational Education and also the owner of a 35% stake in Raya Al Tajdeed.</p>
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "2 linked geographies"
Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.