Saudi Red Sea Housing wins USD19.7m contract

04 Nov 2012

(MENAFN) Saudi developer Red Sea Housing Services Company has won a USD19.7 million contract from GS Engineering to build workers’ housing camps for employees in Rabigh, the Construction Week reported.

GS Engineering & Construction recently won a USD1.8 billion deal to build four petrochemical plants and other facilities for Petro Rabigh, a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical Co.

Red Sea Housing, which is a specialist in building workers’ camps and complexes in the region.

Recently, the company unveiled a USD500 million plan to expand its business into the building materials and affordable housing sectors.

Last month, the company announced a 32 percent increase in profits for the first nine months of 2012 to USD23.2 million.

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