Paratech Signs KRW 22.4 Billion Fire Protection Contract with Cheongna Smart City for Cheongna Peak One Prugio Project
Paratech has entered into a fire protection construction contract with Cheongna Smart City Co., Ltd. for the Cheongna Peak One Prugio development project located at 86-6 Cheongna-dong, Incheon.
The contract amount is KRW 22.4 billion, representing 12.88% of its latest consolidated revenue of KRW 173.9 billion. The contract period runs from August 3, 2026 to November 20, 2029.
Under the terms, the down payment is due within 30 days of contract signing, and the balance is payable within 30 days of invoicing. The contract value and timeline may change based on project progress.
[AI Summary]This contract is expected to contribute to Paratech's revenue growth in the fire protection segment, with the contract size being meaningful at 12.88% of revenue. However, as a long-term contract with standard payment terms, its near-term stock price impact is neutral.