Zamil inks $153m deal with SAMI to set up industrial complex in Al Kharj 

  • 12/11/2023
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RIYADH: Saudi Arabia’s land defense systems are expected to strengthen further after Zamil Steel Construction Co. reached a SR574.9 million ($153 million) deal with Saudi Arabian Military Industries Land Services. Under the agreement, an industrial complex that will develop, design, and manufacture land defense systems will be built in Al Kharj, according to an official statement. The statement added that Zamil Steel Construction Co. will also carry out the maintenance, electrical and plumbing works in the industrial complex. In a separate statement in Tadawul, Zamil Industrial Investment Co., the parent firm of the construction company, said that the scope of the deal also includes the supply of heating, ventilation, and air conditioning products and services, insulated panels, steel structures, and insulation materials. The company further noted that the related financial impact of the deal will be reflected in its financial statements from the first quarter of 2024. Zamil added that it expects the contract to have a positive financial impact upon completion of each phase of the project.

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