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

Konstelec Engineers Limited has incorporated a foreign joint venture, Precision Innovation Co. Ltd. (Daqat Al-Ibtikar), in Saudi Arabia to leverage opportunities in the EPC sector. The new entity, with a total capital of SAR 100,000, will focus on executing electrical and mechanical installations and related activities. Konstelec has subscribed to SAR 50,000, representing 50% of the share capital. This strategic move is aimed at tapping into the growing market potential in Saudi Arabia, which presents a significant opportunity for expansion. Investors should watch closely for developments regarding this venture, as it could enhance the company's footprint in key markets and contribute to long-term growth.