Site Group International Limited (AU:SIT) has released an update.
Site Group International has inked a lucrative deal with the Saudi Water Academy, gaining exclusive access to a training facility that could potentially generate over US$7m annually per center. This partnership positions the company to capitalize on Saudi Arabia’s national workforce strategy and growing demand for vocational training due to the Saudisation project. With the new funding model, Site stands to significantly increase revenues as it now fully controls earnings from training, which range from US$980 to US$1,120 per student monthly, a substantial increase from its prior subcontractor rate of US$375.
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