Riyadh – Mubasher: Rawasi Albina Investment Company has officially announced the awarding of a significant infrastructure project by Saudi Energy Company, valued at approximately SAR 53.99 million.
The contract, which excludes value-added tax, focuses on the modernization of electrical infrastructure in the central region of Saudi Arabia.
This award represents a major addition to the company’s portfolio in the energy and utilities sector, highlighting its role in the Kingdom’s ongoing grid enhancement initiatives.
According to a regulatory disclosure filed with the Saudi Exchange, the project was formally awarded on 17 June. The agreement establishes a partnership between Rawasi Albina and Saudi Energy to execute a specialized scope of work centered on the replacement of transformers.
The operations are slated to take place across two key geographical areas: the capital city of Riyadh and the industrial and agricultural hub of Al-Kharj.
The project is expected to involve the decommissioning of older units and the installation of new, high-efficiency transformers to ensure the stability and reliability of the power distribution network in these high-demand regions.
The selection of Riyadh and Al-Kharj for these upgrades is strategically significant.
Riyadh continues to experience rapid urban and commercial growth, necessitating a resilient power grid capable of supporting increased loads. Al-Kharj, meanwhile, remains a vital center for manufacturing and logistics, where consistent energy supply is critical for operational continuity.
By addressing the infrastructure needs of these areas, the project aligns with national efforts to upgrade utility services to meet modern technical standards.
In terms of corporate governance, Rawasi Albina has explicitly stated that there are no related parties involved in the transaction.
This confirmation ensures that the project was awarded through a standard competitive process, free from any conflicts of interest involving the company’s board of directors or major shareholders. This transparency is a key requirement for listed companies on the Tadawul to maintain investor confidence and adhere to the Kingdom’s regulatory framework for public disclosures.
While the specific duration of the contract and the expected timeline for completion were not detailed in the initial announcement, the award date in mid-2026 suggests that the project will contribute to the company’s operational activities and revenue streams in the coming fiscal years.
Investors often view such contract wins as a testament to a company’s technical expertise and its ability to secure recurring business from major national entities like the Saudi Energy Company.
