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.