Red Sea International Company (RSI) has announced that its subsidiary, The Fundamental Installation for Electric Work (TFIEW), has secured a subcontract from Salini Saudi Arabia to deliver MEP works for a project within the Diriyah City development.
TFIEW is said to deliver projects via end-to-end solutions such as integrated design, engineering and construction services. As per the US $94mn deal, the RSI unit will be responsible for providing engineering, supply, installation, testing and commissioning services in addition to all MEP works.
The entire contract work will be completed by TFIEW within a 15-month period, said RSI in its filing to Saudi bourse Tadawul.
On the financial impact of this contract, the Saudi group said it will start work from the second quarter onwards.
The project win comes close on the heels of the company’s recent win in Riyadh, where it snapped up a similar contract for the King Salman International Airport project. The enabling works package was awarded by King Salman International Airport Development Company and will be completed within a 4-year period.
The firm said it also secured a US $58.6mn contract from Al Arab Hospital Company for the construction of a premium healthcare facility this year.
The 19-storey hospital, comprising 2 basement levels, will be located on the Corniche Road in the South Obhur district of Jeddah, it added.
