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FINANCIAL NEWS
Ma’aden inks deal to start 2nd phase at Ras Az Zawr
15 Feb 2011
(MENAFN) The Chairman of Ma’aden Infrastructure Company (MIC), Abdullah Al Abdulgader, said that MIC, which is a subsidiary of the Saudi Arabian Mining Company Ma’aden, inked a USD78.3 million worth deal with Petrochemical and Mining Company Limited to provide engineering, procurement and construction services to the second phase of accommodation infrastructure development at Ras Az Zawr, reported The Saudi Gazette.
Al Abdulgader said that the project would need about 28 months to be completed and that it would include a residential village comprising 2000 housing units, administrative buildings, a mosque, restaurant, gyms and a water treatment unit.
The Chairman said that the government assisted in banking such vital industrial facilities through the Royal Commission of Jubail and Yanbu. He also said that MIC had a huge role in the delivery of a number of key elements of infrastructure in support of Ma’aden’s mega projects at Ras Az Zawr.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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