Red Sea International Company said its subsidiary has signed a 113 million Saudi riyals ($30.13 million) engineering, procurement and construction (EPC) contract with Modern Building Leaders Company (MBL) for Jeddah Central mega project.

Fundamental Installation for Electric Work Company, the subsidiary, will provide EPC services for mechanical and electrical works (MEP) related to site preparation and infrastructure work, the company said in a statement to the Saudi stock exchange on Wednesday.

In February, Jeddah Central Development Company, wholly owned by Saudi Arabia’s Public Investment Fund, signed four contracts to construct three architectural projects in the $20 billion Jeddah Central.
The contract for the construction of the oceanarium project was awarded to the Modern Building Leaders Company.

(Editing by Anoop Menon) (

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