Saturday 31 October 2020

Saudi TBC names preferred bidder for Wave 1 Schools PPP

RIYADH, September 14, 2020

Tatweer Building Company (TBC), the execution arm of Saudi Ministry of Education, has announced the consortium of Ajyad Knowledge for Education and Training and Al Bawani Company as the preferred bidder for Wave 1 Schools Public Private Partnership programme. 
TBC said that the Wave 1 of the PPP programme will see the funding, design and building and facility management of 60 schools on the Build, Maintain and Transfer (BMT) model. 
These schools will accommodate more than 50,000 students in the cities of Makkah and Jeddah.
According to TBC, the construction phase of the project will be for three years, followed by 20 years of maintenance provided by the private sector. 
The Ajyad Knowledge and Al Bawani consortium was selected as it delivered the best financial offer of SR86 million (average annual equivalent price) for the total of 60 schools.
According to TBC, in Phase One, the construction of Jeddah schools were likely to be completed within two years of signing of the contract followed by the Makkah schools within three years.
TBC said it had obtained all necessary approvals to award the project and sign the contract in co-ordination with the National Center for Privatization and PPP (NCP). 
The project is likely to be signed in the coming weeks and work is set to start by the end of this year, it added.-TradeArabia News Service


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