Skip to content Skip to Search
Skip navigation

Saudi catering firm signs $2.4bn deal with Red Sea Global

Unsplash.com
SACC will design, build, operate and transfer a central production unit for catering and facilities management at Red Sea Global destinations

Saudi Airlines Catering Company (SACC) has signed two contracts worth SAR9 billion ($2.4 billion) with Red Sea Global, the developer of Red Sea and Amaala mega projects.

The first contract, valued at SAR6.3 billion, is to design, build, operate and transfer a central production unit for catering and facilities management to service RSG hotels, resorts and other facilities within its mega destinations.

The second, worth SAR2.7 billion, is to design, build, operate and transfer a central laundry for hotels, resorts and other facilities within the Red Sea Global destinations.

The two Red Sea Global contracts will be valid for 20 years, SACC said in two separate statements to the Saudi Tadawul stock exchange.

SACC reported a 62 percent year-on-year rise in first-quarter profit to SAR57.1 million, as a result of improved sales from inflight, remote sites and railways catering services.

In its 2022 board report, chief financial officer Hesham Masoud said that revenue reached SAR1.82 billion in 2022, an increase of 49.9 percent year on year.

The underlying operating profit of SAR283.9 million was 370.5 percent higher than in 2021, despite mobilisation costs associated with higher new business growth, he added.

“SACC has emerged from the pandemic as a stronger and more resilient business, reflecting our clear strategy and market-leading growth enablers,” Masoud stated.

Latest articles

Waste To Energy Biogas plant with solar, battery station and E-car charging station

African renewables are ripe for investment, says Irena

Africa accounted for less than 1 percent of the new renewable energy sources added globally last year, and a conference in Abu Dhabi this week called on wealthy investors to help the continent achieve its targets. Amani Abu Zeid, commissioner for infrastructure and energy of the African Union Commission, told the International Renewable Energy Agency […]

Saudi Arabia Ronnie O'Sullivan snooker

Ronnie O’Sullivan to be Saudi snooker ambassador

Saudi Arabia has signed a deal with the world’s top snooker player, Ronnie O’Sullivan, for him to act as an “ambassador” for the sport in Saudi Arabia.  It was announced alongside news that Saudi Arabia has become an official sponsor of the World Snooker Championship that begins this weekend in Sheffield, UK. Under the three-year […]

UAE Costa Rica Cepa

Costa Rica added to UAE economic partners

The UAE has signed a comprehensive economic partnership agreement with Costa Rica, the latest in a string of trade deals around the world over the past two years. It is the first time the South American country has signed an agreement with a Middle Eastern country. The agreement will improve trade flows between the two […]

A man wades through a flooded street in Dubai. Some areas of the UAE received more than a year's worth of rain in one day Video length: 03:08

UAE president orders review after flooding

The UAE’s president, Sheikh Mohamed bin Zayed Al Nahyan, has ordered an urgent review of the country’s infrastructure after historic levels of rainfall brought the Gulf state to a standstill, with some areas seeing more than a year’s worth of rain in one day. The president has contacted authorities “to quickly work on studying the […]