| Element List |
Explanation |
| Introduction |
Continuing the company’s business development strategy of expanding into infrastructure development projects and logistics services that include the supply of HVAC systems, steel buildings and structures, insulation panels, and rock wool and fiberglass insulation materials, Zamil Steel Construction Company, a wholly owned subsidiary of Zamil Industrial Investment Company (Zamil Industrial), has signed a contract with Maersk Arabia Logistics Services for the construction of multi-purpose warehouses and a logistics yard at the Jeddah Islamic Port worth SAR 718,750,000 (including VAT). |
| Date of Announcement of the Award |
2023-03-05 Corresponding to 1444-08-13 |
| Contract Subject Matter |
Construction of multi-purpose warehouses and a logistics yard for Maersk Arabia Logistics Services at the Jeddah Islamic Port in Jeddah City |
| Date of Signing the Contract |
2023-03-05 Corresponding to 1444-08-13 |
| Contract Value |
SAR 718,750,000 |
| Contract Details |
The scope of work includes performing all work required for the construction of warehouses, offices, and loading areas, including structural, civil, finishing, and MEP work. In addition, the company will supply various products, including HVAC systems, steel buildings and structures, insulation panels, and rock wool and fiberglass insulation materials. The project takes into account sustainability requirements and applies the Green Building Code standards at the Golden Level. Solar panels will also be installed to generate approximately 15 megawatts of electrical energy. |
| Contract Duration |
17 Months |
| Financial Impact and the Relevant Period |
The financial impact of signing this contract will be reflected in the company’s financial statements beginning in the second quarter of fiscal 2023. This contract is expected to have a positive impact on the company’s consolidated financial statements upon completion of each phase of the project. |
| Related Parties |
N/A |
Comments