ICON’s subsidiary wins over $28mln deal for Saudi’s NEOM
- Date: 26-May-2023
- Source: Zawya
- Sector:Industrial
- Country:Saudi Arabia
ICON’s subsidiary wins over $28mln deal for Saudi’s NEOM
Cairo: Industrial Engineering Company for Construction and Development (ICON), listed on the Egyptian Exchange (EGX), said that its subsidiary Prefabricated Buildings Development Industrial Co. Saudi Arabia won a contract for the NEOM project.
The awarded contract is valued at SAR 105.62 million and will cover the manufacture and supply of prefabricated buildings for Saudi Arabia’s NEOM, according to a bourse disclosure on EGX.
In late 2022, the Egyptian company announced the incorporation of a subsidiary in Saudi Arabia at SAR 5 million issued capital. This followed the board’s approval earlier in October last year to establish a company as per the regulating laws in the Kingdom to manufacture, deliver, and install prefabricated buildings and caravans.
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