CEMCCO wins $30.7m Emaar EC deal
Jeddah, February 14, 2008
Emaar, The Economic City (Emaar EC) has awarded SR115 million ($30.7m) contract to Saudi-based CEMCCO.
The Tadawul-listed company’s contract with Saudi firm to develop infrastructural work within King Abdullah Economic City (KAEC)’s Industrial Zone also covers covers the utilities work over 1.58 million square metres of land, the company said in a statement.
The work is part of the first phase of development of the Industrial Zone, which will eventually have an area of 63 million square meters of land dedicated to industrial and light manufacturing facilities, it added.
The first phase has been launched to strong investor response and several key players in the global industry have registered interest in KAEC.
CEMCCO will undertake the construction of two sewage pumping stations, irrigation tanks and pump rooms, electrical substation, a potable water network, irrigation and firewater network, MV power cable network and street lighting, sewage network, water storm channel network, telecommunication ducts and roads.
Turner will be the project manager and Dar Al Handasah will be the consultant and supervisor.
“King Abdullah Economic City is making rapid strides in its evolution as a premier investment destination for industries. The strong investor response from several industrial and manufacturing companies signals the trust in the high-growth opportunities presented by KAEC,” said Emaar.EC chief executive officer Fahd Al Rasheed.
“Emaar.EC partners with renowned contractors and designers in developing KAEC to ensure a world-class development. CEMCCO has proven competencies in infrastructure development and their extensive expertise will help lay down a modern infrastructure for the first phase of the Industrial Zone,” he added.
“CEMCCO, part of the TOEC group which has a strong regional presence in Algeria, Sudan, Syria and Qatar, is proud to be taking part in a pioneering project of such proportions. We have plans to have a presence in KAEC through entering the industrial sector and heavy construction alongside the infrastructure development. We are committed to making available all the necessary expertise to ensure the project is delivered on time,” said CEMCCO general manager Engineer Salim Sadiq Al Akhras.
The Industrial Zone has been specifically designed with the needs of manufacturers in mind, and will eventually host more than 2,500 industrialists and manufacturers.
The premises are being built in cooperation with world class environmental experts and consultants to ensure the highest specifications of security, safety and environmental preservation.
KAEC has six key components: Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort Zone and Residential Communities. Work on the first phase is going on and several key contracts have already been awarded. – TradeArabia News Service
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