Progressive Impact Corporation Berhad has informed that its wholly owned subsidiary, Saudi ASMA Environmental Solutions LLC. had accepted a contract from Saudi based KIDANA for the supply of underground waste compactors.
There was not contract sum disclosed however, the group said the contract sum is material and would contribute positively to the net assets of the Group for the financial year ending 31 December 2024. However, due to the non-disclosure agreement entered between SAUDI ASMA and KIDANA, the total value of the Contract Sum could not be disclosed.
Obligations under the contract include the procurement, installation, commissioning and maintenance of the underground waste compactors in the area of Mina, Makkah for the usage of the Muslim pilgrims. SAUDI ASMA will be required to submit a performance bond amounting to 5% of the total value of the Contract Sum which shall be valid for the entire project period within ten (10) days from the acceptance of the letter of award.
Picorp said the contract provides the opportunities to SAUDI ASMA in extending its services covering the areas of waste management and be part of the Kingdom of Saudi Arabia initiatives towards providing improved facilities and services to the Muslim pilgrims and providing opportunity for larger numbers of Muslim pilgrims to perform Hajj rituals.
