Emaar, the Economic City (Emaar.EC), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has awarded a developmental contract worth SR115 million ($30.7 million) to Saudi Arabia-based Cemcco for undertaking the infrastructural work within the mega-project’s Industrial Zone.
The contract covers utilities work across 1.58 million sq m of land. The work is part of the first phase of development of the Industrial Zone, which will eventually have an area of 63 million sq m of land dedicated to industrial and light manufacturing facilities. “The first phase has been launched to strong investor response and several key players in the global industry have registered interest in KAEC,” an Emaar.EC statement said.
Cemcco will undertake the construction of two sewage pumping stations, irrigation tanks and pump rooms, an electrical substation telecommunication ducts, streetlighting and roads as well as networks for potable water, irrigation, firewater, power cables, sewage and storm water
Turner will be the project manager and Dar Al Handasah will be the consultant and supervisor.
Fahd Al-Rasheed, CEO, Emaar.EC, said: “King Abdullah Economic City is making rapid strides in its evolution as a premier investment destination for industries. The strong investor response from several industrial and manufacturing companies signals trust in high-growth opportunities presented by KAEC.”
“Cemcco has proven competencies in infrastructure development and their extensive expertise will help lay down a modern infrastructure for the first phase of the Industrial Zone.”
The company is part of the TOEC group which has a strong regional presence in Algeria, Sudan, Syria and Qatar
Salim Sadiq Al Akhras, general manager of Cemcco, Saudi Arabia, said: “We have plans to have a presence in KAEC through entering the industrial sector and heavy construction alongside the infrastructure development. We are committed to making available all the necessary expertise to ensure the project is delivered on time.”
The Industrial Zone has been specifically designed with the needs of manufacturers in mind.
KAEC has six key components: the Seaport, Industrial Zone, Central Business District, Educational Zone, Resort Zone and Residential Communities. Work on the first phase is on-going and several key contracts have been awarded already.
Emaar, the Economic City (Emaar.E.C), established in September 2006, is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world’s largest property developers. Emaar.EC has a share capital of SR8.5 billion consisting of 850 million shares of nominal value SR10 each. Thirty per cent of the equity, worth SR2.55 billion, was offered for public subscription.
