Konstelec Engineers Limited — Important, 20-02-2025: General Updates

Konstelec Engineers Limited has incorporated a new foreign joint venture company, Precision Innovation Co. Ltd (Daqat Al-Ibtikar), a limited liability company in Saudi Arabia, aimed at expanding its EPC sector operations and tapping into local market potential. The joint venture involves a 50% ownership stake each from Konstelec and Al-Ebtekar Technical Trading Company, with an initial total capital of SAR 100,000. This strategic move positions Konstelec to execute EPC contracts and related services in the region. As the company is newly established, there is no turnover to report yet. Investors should watch closely as this venture may enhance Konstelec's market presence and growth prospects in the expanding Saudi EPC market.