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Anmat Technology Secures SAR 314.5M Contract with Saudi Energy
The three-year deal through June 2028 adds revenue visibility for Anmat and reflects ongoing digitalisation spending in Saudi Arabia's energy sector.
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Anmat Technology for Trading Co. signed a final contract with Saudi Energy Co. valued at SAR 314.5 million, including VAT, the company said in a Tadawul filing. The agreement runs until June 30, 2028.
The contract covers unspecified technology services for Saudi Energy, a state-controlled utility. For Anmat, the deal adds a multi-year revenue stream that boosts backlog visibility through fiscal 2028. The company did not specify how the contract value compares with its existing revenue base.
The Saudi energy sector has been investing in digital tools and automation to improve grid management and operational efficiency. That trend has generated service contracts for technology firms across the kingdom. Anmat's win fits within that broader spending pattern, though the specific scope of work was not disclosed.