Anmat rolls out SAR 37m project award from Saudi gov’t

ANMAT
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Riyadh - Mubasher: Anmaat Technology Company announced the receipt of a project award notification from the Saudi Ministry of Defense, valued at approximately SAR 36.97 million.

The contract, which includes Value Added Tax (VAT), involves the execution of specific technical or operational works for the ministry. This award marks a significant development for the company as it prepares to finalize regulatory procedures and formalize the contractual agreement scheduled for mid-2026.

In a regulatory filing on the Saudi Exchange, Anmat Technology detailed that the notification of the award was officially received on 17 June 2026.

While the specific technical scope of the project remains governed by the Ministry of Defense’s internal specifications and requirements, the company confirmed that the work is designated to support the Ministry’s ongoing infrastructure or technological initiatives.

The company is currently in the process of fulfilling the necessary legal and administrative requirements mandated by the Saudi procurement system.

This phase includes the provision of a final bank guarantee, which serves as a performance bond to ensure the fulfillment of the project’s objectives according to the agreed-upon standards.

Following the completion of these administrative steps, the formal signing of the contract is expected to take place on 18 July 2026.

Anmat Technology emphasized that there are no related parties involved in this transaction, ensuring that the award was conducted through standard competitive or governmental procurement channels.

Regarding the financial implications of the project, the company stated that the expected financial impact and the specific periods during which revenue will be recognized will be disclosed at a later date. These details are typically provided once the contract is officially signed and the project execution timeline is finalized.

The company has committed to maintaining transparency with its shareholders and the broader investment community. It noted that any material developments regarding this project, particularly the formal signing of the contract or any adjustments to the project scope, will be announced promptly in accordance with the relevant rules and regulations of the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul).

Source: Mubasher Source: {{details.article.source}}