Riyadh – Mubasher: Al Babtain Power Telecommunication Co. on Monday announced signing a contract with Spain’s Europea de Construcciones Metalicas S.A. to provide concentrated solar power (CSP) steel structures to Mohammed bin Rashid Al Maktoum Solar Park – Phase IV.
The 31-month deal worth SAR 260.66 million ($69.5 million) begins on the signing date, that is Monday, 11 March 2019, Al Babtain said in a statement to the Saudi Stock Exchange (Tadawul).
The firm further added that the financial impact of this deal would appear in the financial results for the fourth quarter of 2019.
No third or related parties were involved in the transaction, Al Babtain concluded.
Al Babtain’s stock closed Monday higher, adding 0.27% to end at SAR 22.14.
