Zamil secures Posco contract
Zamil Industrial Investment Company said one of its units has won a SR11.8-million ($3.14 million) contract from South Korea’s Posco Engineering & Construction Company (Posco E&C) for a first-of-its-kind sulphur railcar loading facility being developed by Saudi Aramco in Jubail.
Under the terms of the engineering, procurement, construction (EPC) contract, Zamil Air Conditioning and Refrigeration Services Company will provide engineering design services, materials procurement, supply, installation, testing and commissioning, and third-party consultancy services.
It will also be responsible for the review and certification of the high-pressure water mist suppression system, automatic wet sprinkler system and the addressable extinguishing control system for the railcar loading facility at the Wasit and Berri gas plants.
The Zamil unit was selected for the project following a stringent prequalification process that included closed bidding, said a senior official.
“This indicated a significant level of trust in the company and its capacity to meet and exceed industry standards for quality and timeliness. It also places Zamil Air Conditioning and Refrigeration Services, particularly its Fire Protection Department, in a position to leverage its reputation and capabilities in the region,” said a senior official.
Aramco to set up largest gas complex
State-owned Saudi Aramco, a global petroleum and chemicals enterprise, plans to build the largest industrial complex for gas in the world at a cost of $2.1 billion in Jazan.
The project will supply 20,000 tonnes of oxygen and 55,000 tonnes of nitrogen to Jazan refinery for 20 years, reported Arab News.
It will be developed with US-based Air Products and Chemicals company, in a build, own and operate agreement, said Mohamed Abunayan, chairman of the Arabian Company for Water and Power Development.
As per the contract, Acwa Holding will own 75 per cent of the project while Air Products will own 25 per cent. Ten international and national banks participated in financing the project with $1.8 billion.
Turkish firms eye $240bn homes
The Saudi Arabian government is in talks with Turkish construction companies to execute its plan to build residential projects worth $240 billion across the country, said a report. The talks with the Ministry of Housing, with regard to the construction of two million homes in the kingdom, have made significant progress towards forming a consortium of construction firms in Turkey to implement the project, reported the Arab News.