Riyadh - Mubasher: The Fundamental Installation for Electric Work Company, a subsidiary of Red Sea International Company, has signed a SAR 220 million contract with Al Arab Hospital Company Limited.

The contract aims to establish a 19-storey hospital with two basements in the South Obhur district, Jeddah, according to a bourse filing.

Meanwhile, the deal includes the supply, installation, testing, commissioning, and handover of mechanical, electrical, and plumbing (MEP) works, screed works, internal partitions, and additional civil works.

The construction work is scheduled to be completed over 420 days, with the revenues and profits expected to start appearing in the first quarter (Q1) of 2026.

In December 2025, the Fundamental Installation for Electric Work obtained extensions to its multi-purpose funding facilities with Alinma Bank and Riyad Bank.