Al-Babtain Egypt signs SAR 141.7 million supply contract

14/08/2013 Tadawul

Al-Babtain Power and Telecommunication announces that its Egypt subsidiary (Al-Babtain Egypt for Power and Telecommunication) signed (on August 12, 2013) a supply contract with the Comptoir Algerien des Materiels Electriques et Gaziers (CAMEG) for the making and supply of power transmission towers.

Contract’s value is USD 37.8 million (SAR 141.75 million) and its tenure is six months from the date of signing. The investment will be financed by CAMEG’s internal resources.

The financial effect will be reflected as of Q4, 2013. The contract shall contribute to the Al-Babtain’s plan for 2013/2014.

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