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FINANCIAL NEWS
KAEC signs a contract with Al-Hareth Est
05 Aug 2013
(MENAFN) King Abdullah Economic City (KAEC) inked a deal with Salem Al-Hareth Est. (SSH), one of the kingdom’s major trade and contracting companies, to perform grading and earthworks for the second phase of the Industrial Valley IV II, Arab News reported.
The project, scheduled to be completed by February 2014, was given for USD17.5 million.
“Salem Saleh Al-Hareth Est. (SSH) was selected among other contractors because of its long experience and in-depth knowledge in infrastructure, its insurance for speed of delivery, maintaining the highest degree of accuracy, reliability and complying with the highest international standards,” said Al-Rasheed, managing director and CEO of KAEC.
Al-Rasheed added: “KAEC supports investors and venture capitalists willing to invest in the Industrial Valley with a variety of owning and long-term leasing options. This enables them to benefit from many of the main services offered by the city, for instance, the ease of issuing permits and licenses, and the possibility of providing qualified manpower through training centers for Saudi talents.”
Al-Hareth expressed his pride in the partnership with KAEC, one of the largest and most significant economic projects run by the private sector in the Middle East.
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