Red Sea Housing inks $15m contract with Expo 2020 Dubai
The company will build and supply modular structures and rental units for 20 months from August 2019 to April 2021
Red Sea Housing Services Company Dubai, a UAE-based subsidiary of Saudi Arabian Stock Market-listed (Tadawul) Red Sea International Company, has inked a $15m (SAR56m) contract with Expo 2020 Dubai to supply modular structures for the World Expo.
In a bourse missive, the parent company said that the contract will last for duration of 20 months, starting from August 2019 to April 2021.
According to Red Sea International Company, the scope of work for the contract covers fabrication, supply and construction of a number of pre-manufactured and modularised structures, and rental units, which will serve visitors at the World Expo, over its period of six months from 20 October, 2020 to 10 April, 2021.
The company, which is a modular buildings manufacturer, said that the financial impact of the contract will be recognised over Q3 2019 to Q1 2021.