Oman Cables signs RO27mn supply deal with Saudi customer

Oman Cables signs RO27mn supply deal with Saudi customer
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Published July 17th, 2013 - 05:29 GMT via SyndiGate.info

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Oman Cables Industry has signed a contract for the supply of power cables worth an estimated RO27.36mn with a customer in Saudi Arabia, the company said in a filing to the Muscat Securities Market (MSM).

"The customer will issue orders for the cables to be delivered over a period of the next 12 months. The income from this order is in line with Oman Cables Industry's normal operations," the company said in the filing.

Recently, Oman Cables Industry and Electricity Holding Co, including its subsidiaries, signed a framework agreement for supply of cables and conductors and servicing over the next three years.

The total anticipated value of the framework agreement is RO80.15mn.

In April, Oman Cables concluded a contract worth RO10mn with a customer in Kuwait for the supply of power cables.

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