Riyadh – Mubasher: Rawasi Albina Investment Company has announced the awarding of a major infrastructure project by the Saudi Energy Company at a total value of SAR 36 million excluding value-added tax (VAT), according to a bourse filing.
The contact focuses on the modernization of electrical distribution networks within the Kingdom.
Meanwhile, the project award was finalized on 24 June 2026, representing a significant milestone for Rawasi Albina as it continues to expand its footprint in the national energy services and utility infrastructure sector.
The agreement establishes a formal partnership between Rawasi Albina and Saudi Energy, with the latter acting as the primary project owner and counterparty.
The technical scope of the project is centered on the replacement of non-standard transformers across several key distribution stations. These operations will be concentrated in the Al Qassim and Ad-Dawadmi regions, which are vital components of the Kingdom’s central power grid.
By replacing non-standard equipment with updated, standardized units, the project aims to enhance the efficiency, reliability, and safety of the local energy distribution infrastructure. Such upgrades are typically essential for maintaining grid stability and ensuring that the electrical architecture meets the latest national and international technical specifications.
Rawasi Albina confirmed that there are no related parties involved in this transaction. Meanwhile, the absence of related-party interests further clarifies that the project is a purely commercial arrangement between the investment company and the Saudi Energy.
The financial impact of this contract is expected to be reflected in Rawasi Albina’s future financial statements, although the specific timeline for revenue recognition will depend on the project’s execution phases and the subsequent completion of milestones.
This project award aligns with the broader industrial trend in Saudi Arabia, where significant capital is being deployed to upgrade aging infrastructure and implement standardized technological solutions across the utility landscape.
Rawasi Albina has not yet disclosed further details regarding the expected duration of the latest project or the specific commencement date for the physical works on-site.
It is worth noting that Rawasi Albina lately secured another contract worth SAR 53.99 million with the major player Saudi Energy, which reinforces the Nomu-listed firm’s reputation as a capable contractor in the specialized field of electrical and energy infrastructure.
