SARCO Subsidiary Wins Riyadh School Construction Contract

Saudi Arabian Refineries Company (SARCO) has announced that its key subsidiary, Raya Al Tajdeed, has secured a SAR100 million ($26.7 million) contract from a multinational education company. The contract is for the construction and finishing works of prime projects in the capital city of Riyadh.

SARCO holds a 35% stake in Raya Al-Tajdeed Contracting Company. Under the terms of the two-year contract, Raya Al Tajdeed will be responsible for carrying out construction and finishing works for projects owned by the education company in Riyadh. This was stated in SARCO's filing to the Saudi bourse, Tadawul.

The financial impact of this contract is expected to begin in the fourth quarter of 2026, according to the TradeArabia News Service.

For a developer: This contract highlights the ongoing investment and development in the education sector within Riyadh, indicating potential growth opportunities for construction and real estate companies in the region.

Key figures: SAR100 million ($26.7 million).