Al Yamamah Steel signs two contracts to supply steel towers worth 309 million riyals

On October 20, 2024, Al Yamamah Steel Industries Company signed a contract to supply steel towers with Larsen & Toubro Saudi Arabia for the project to establish a 500 kV ultra-high voltage line from the central region to the western region (phase three) worth 170.5 million riyals. The company said in a statement on Tadawul that the contract period is one year, expecting the financial impact of the contract to begin appearing in the third quarter of 2025, and that the supply for the project will begin as of May 2025. In a separate statement, the company announced the signing of a contract to supply steel towers with Larsen & Toubro Saudi Arabia for the project to establish a 380 kV ultra-high voltage line from Satara station to Wadi Al-Dawasir station in the central region worth 138.86 million riyals. The company said in its statement that the contract period is one year, and it expected the financial impact of the contract to begin to appear in the second quarter of fiscal year 2025, and that the supply to the project would begin as of January 2025. It indicated that there are no related parties in the two contracts.