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FINANCIAL NEWS
Saudi firm wins USD13.9m contract for JIP
27 Oct 2011
(MENAFN) The Jeddah Islamic Port (JIP) head Sahir Tahlawi announced the signing of USD13.86 million contract with Assad Said Contracting Company, Ltd. for a road project, as part of its expansion plans to upgrade and increase capacity, Arab News reported.
He added that they are currently in the process of opening bidding for a rainwater drainage system project worth USD17.33 million.
JIP was planning over the past few years to expand by as much as 45 percent, and opening of Red Sea Gateway Terminal in 2009 represented the first major phase of the plan, raising the handling capacity by 1.5 million TEUs. The total capacity at present is five million TEUs.
Tahlawi said in August that other projects that have been delayed because of financing issues totaled USD173 million, including a parking space, power station and new government buildings.
More News
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