Executive Summary:
Red Sea International Co. has secured a SAR 175.90 million contract through its subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix). This deal is signed with Modern Building Leaders Co (MBL), that involves comprehensive mechanical, electrical, plumbing (MEP), and civil works for a project in Riyadh, Saudi Arabia. This 30 months contract is a significant addition to Red Sea's backlog and is expected to positively influence financial results starting from the first quarter of 2026.
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| Image Courtesy: Pexels |
Contract Details at a Glance:
| Feature | Description |
| Subsidiary | Fundamental Installation for Electric Work Co. Ltd. (First Fix) |
| Main Contractor | Modern Building Leaders Co. (MBL) |
| Value | SAR 175.9 Million (Excluding VAT) |
| Signing Date | February 16, 2026 |
| Expected Completion | Approximately August 2028 |
Key Highlights of This Contract:
The scope of work is very broad. It covers full lifecycle of technical aspects. Contractor will supply, install, testing commissioning, and handover of all Mechanical, Electrical, Civil, and Plumbing engineering work. The project location is in Riyadh, Saudi Arabia. The contract duration is 30 months.
The related parties are Red Sea and MSB Holding Co. They will ensure transparency as per Tadawul regulations.
Impact of the Contract:
- The economic performance of Red Sea will grow in first quarter of 2026. But it will provide steady, long term, and multi year income stream for company growth target.
- This project shows Red Sea's expertise in MEP (Mechanical, Electrical, and Plumbing), and Civil infrastructure field. Red Sea will make its strategic position in MEP and Civil Work field.
- First Fix and MBL has previously multi billion riyals contract in Jeddah. This project is a series of confidence between two companies.
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