Saudi-based Rawasi Al Bina Investment Company,  has announced the signing of a framework agreement with Saudi Energy Company (SEC) for the successful installation, removal, replacement, and maintenance works related to the low- and medium-voltage overhead and underground distribution networks of up to 36kV in the Qassim region.

A key player in the region, Rawasi is the SEC-approved EPC contractor for up to 69 kV overhead and underground distribution network and also a specialist in electrical contracting, telecommunications management consulting, technology service, turn-key projects and construction services, 

The total (ceiling) value of the agreement is SAR36.3 million ($9.6 million), said Rawasi in its filing to Saudi bourse Tadawul.

Rawaisi has provided a final bank guarantee amounting to SAR1.8 million, representing 5% of the contract value, in compliance with the terms and conditions of the agreement.

The entire contract work will be completed within three years, said the SEC-approved EPC contractor for up to 69 kV overhead and underground distribution network,