Posted on: Monday 8 October, 2012 5:15
|Saudi Emaar EC Inks $24.3M Works Deal in King Abdullah City
Saudi Arabia's Emaar the Economic City (4220.SA), or Emaar EC , the developer of King Abdullah Economic City project, Saturday said it has signed a 91 million Saudi riyals ($24.27 million) contract with the local Al Harbi Contracting for infrastructure works in the city.
Emaar EC , an affiliate of U.A.E.'s Emaar Properties, said that the 365-day contract involves asphalt paving and lighting of roads, in addition to setting up water, sewage, electricity and telecom grids.
These works are part of the first phase of the development project of the city's industrial area, the company said in a statement posted on the Saudi bourse website.