Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business, Economy, Tourism

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Aramco signs $11bn deal

The deal involves its Jafurah gas facilities.

Saudi Catering, RSG ink pacts

The contracts are subject to final approval of RSG's board of directors.
By Hilal Mir
July 4, 2023 7:54 pm
  • The first contract includes the design, building, operation and transfer of a central laundry to serve hotels, resorts as well as other facilities.
  • The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.

RIYADH, SAUDI ARABIA –   Saudi Arabia Catering Co signed two contracts with Red Sea Global Co. (RSG) at a total estimated value of US$2.4 billion (SAR 9 billion).

The first contract includes the design, building, operation and transfer of a central laundry to serve hotels and resorts as well as other facilities and sectors at the Red Sea project, valued at about US$720 million (SAR 2.7 billion), as per the statements submitted by the companies to Tadawul.

The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.

This is  valued at about US$1.6 billion (SAR 6.3 billion). Each contract is valid for 20 years, said Saudi Catering.

The contracts are subject to final approval of RSG’s board of directors.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]