SARCO Secures $26.6 Million Contract for Education Projects in Riyadh

Saudi Arabian Refineries Company (SARCO) has announced that its subsidiary, Raya Al-Tajdeed Contracting Company, which is 35% owned by SARCO, has entered into a contract with a multinational education company. The contract, valued at $26.6 million, was awarded on August 19 and involves carrying out construction and finishing works in Riyadh.

The contract was awarded to Advanced Industrial Supplies Company (Lawazim Industrial), which is 85% owned by SARCO’s subsidiary Masafi Ventures Company. Additionally, a subcontract was signed on August 22 with the Saudi Binladin Group’s Doors Division for the supply and installation of wooden doors for the housing project.

The contract has a duration of 12 months, with work expected to begin according to the project schedule. SARCO has stated that the financial impact of the contract on its business is anticipated to start in the fourth quarter of 2026.

For a developer: This contract highlights the ongoing investment and development opportunities in Riyadh's education sector, showcasing the potential for growth and collaboration with multinational companies in the region.

Key figures: Contract value: $26.6 million; Contract duration: 12 months; Financial impact expected in Q4 2026.