Riyadh – Mubasher: Red Sea International Company has announced that its subsidiary, the Fundamental Installation for Electric Work Company (First Fix), has entered into a substantial subcontract agreement valued at SAR 352.60 million with Salini Saudi Arabia Company Limited.
The contract, which focuses on comprehensive mechanical, electrical, and plumbing (MEP) works, is designated for a major development project within Diriyah City, marking a significant expansion of the company’s operational backlog in the Kingdom’s infrastructure sector.
According to a regulatory filing on the Saudi Exchange (Tadawul), the agreement was officially signed on 22 June. The Fundamental Installation for Electric Work will be responsible for a broad scope of technical services.
These responsibilities include the engineering, procurement, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems required for the designated site in Diriyah.
The project is set to be executed over a period of 454 days. Red Sea International indicated that the financial impact of this contract is expected to materialize in the company’s financial results starting from the second quarter (Q2) of 2026. This timeline aligns with the mobilization and commencement phases of the engineering and construction works outlined in the agreement.
The primary contractor, Salini, is a prominent entity in the regional construction landscape, and this collaboration underscores the strategic positioning of Red Sea International’s subsidiaries in supporting large-scale national developments.
The Fundamental Installation for Electric Work is recognized as a major independent MEP contractor in the Saudi market, specializing in integrated design, engineering, and construction solutions for world-class infrastructure projects.
The disclosure further confirmed that there are no related parties involved in this transaction, ensuring that the agreement was conducted under standard commercial terms.
The involvement of Red Sea International in the Diriyah City project highlights the company’s role in contributing to the Kingdom’s Vision 2030 giga-projects, which continue to drive demand for specialized engineering and electromechanical services.
