Mayar subsidiary enhances contract with NEOM by SAR 2.3M

Mayar Holding Co. announced a SAR 2.3 million increase, excluding VAT, in the contract value between its subsidiary, Saudi Drip Irrigation Co., and NEOM Co.

In a statement to Tadawul, the company noted that this increase represents 8% of the original contract value.

It also highlighted that the financial impact of this adjustment will positively reflect on Mayar’s financial results for 2025.

In November 2023, Saudi Drip signed a contract with NEOM to execute operation and maintenance works for the NEOM project over 24 months, valued at SAR 28.9 million, excluding VAT, data compiled by Argaam showed.