Saudi Arabia-based Yamamah Steel Industries Company has signed an important agreement with National Contracting Company Limited for the installation of a high voltage line worth 95 million riyals. Under the agreement, Yamamah Steel will supply the steel towers required for the construction of a 380 kV high voltage line in the Central Region. The company aims to contribute to the energy infrastructure with this strategic move.
While the project is planned to be completed within a year, the company said in a statement that the financial effects of the contract will begin to be felt in the third quarter of 2025.
Yamamah Steel announced a net profit of 6.5 million riyals in the third quarter of 2024. The company, which posted a net loss of 47.5 million riyals in the same period last year, attributed this recovery to the decrease in sales costs in the construction and electricity sectors, as well as the increase in the amount and value of sales in the construction and renewable energy sectors.
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