Saudi Arabia’s Advanced Building Industries Company (Senaat) announced that its subsidiary, Advanced Construction Solutions Company for Projects (ZODCON), signed a contract with TKE ALAT Manufacturing Company for the construction of a multi-purpose manufacturing facility in Dammam’s Third Industrial City.
The contract is valued at SAR 252 mln (USD 67.2 mln), excluding VAT, according to a stock exchange filing.
The project will be executed on a design-and-build basis and includes civil works, structural steel works, and mechanical, electrical, and plumbing works for an integrated manufacturing facility. The development will also include an innovation hub, product development center, and training facility.
The contract duration is 20 months, with the financial impact expected to begin appearing in Senaat’s financial statements from the fourth quarter of 2026.
TKE ALAT Manufacturing is a joint venture between Germany-based TK Elevator and Saudi Arabia’s Alat, a Public Investment Fund (PIF) company focused on developing industrial capabilities in priority sectors
Established in 1998 and headquartered in Dammam, SENAAT manufactures pre-engineered steel buildings, structural steel, and HVAC systems for commercial, industrial, and residential applications.
1 USD / 3.75 SAR