Rawasi Albina Lands SAR 36M Energy Project in Saudi Arabia

Rawasi Albina Investment Co. was awarded a project by Saudi Energy Co. worth SAR 36.03 million excluding VAT, the company said in a statement. No timeline was disclosed.

The contract covers construction or energy-related services, though Rawasi Albina did not specify the scope. The award adds to the firm's backlog at a time when Saudi Arabia is ramping up infrastructure spending tied to its Vision 2030 plan.

Rawasi Albina has won several smaller contracts this year with state-linked energy firms. The latest win suggests the broader energy-services sector in the kingdom remains active, which could support similar contractors winning tenders for grid or plant work. Saudi Energy operates in electricity generation and distribution, making it a key counterparty for firms like Rawasi Albina.

The company's stock trades on the Saudi Exchange under ticker 9549. It did not provide a completion date or any further terms of the contract.