| 16 Apr 2009 |
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Arabtec Saudi Arabia Embarks On Its First Project in the Kingdom
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KSA, Al Riyadh, 16 April 2009: Arabtec ConstructionArabtec Construction
LLC, a subsidiary of Arabtec Holding PJSC, announced yesterday that it has broken grounds on its first project in Saudi Arabia on 2 April 2009, less than one month after signing the MOU for the formation of Arabtec Saudi ArabiaArabtec Saudi Arabia on 7 March, 2009.It is worth noting that an MOU for the partnership agreement between Arabtec ConstructionArabtec Construction Dubai, Prime International Group Services Ltd. and CPC Services Company, was signed for the creation of Arabtec Saudi ArabiaArabtec Saudi Arabia at a ceremony held in Dubai in early March.
This sub-contract to the Saudi Bin Laden GroupSaudi Bin Laden Group, with an approximate value of 1.5 billion Saudi Riyals, has a total built up area of approximately 250,000 square meters, comprises of 46 buildings, and is part of the Princess Noora Abdul Rahman University in Riyadh, KSA.
Arabtec also announced that it is currently in negotiations for two other major contracts which it hopes to conclude and announce soon.
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About Arabtec:
Arabtec Holding PJSC, formerly known as Arab Technical Construction Company PJSC, is a Public Joint Stock Limited Liability Company formed in 2004 to invest in the contracting sector through establishing, acquiring and owning shares in construction related companies in the UAE and abroad. Arabtec ConstructionArabtec Construction
LLC, Austrian Arabian Ready Mix Concrete Co. LLC and Arabtec Pre-cast LLC are wholly owned subsidiaries of Arabtec. Arabtec ConstructionArabtec Construction Company LLC, the company behind the world renowned and iconic Burj Dubai are widely recognised as one of the top construction companies in the UAE. Arabtec Holdings was formed to invest in the construction sector with a view to benefit from the unprecedented construction boom that is expected to continue over the next few years. The company relies on a highly motivated management team with vast experience in the contracting sector. Mr Riad Kamal, a founding shareholder, has overseen the development of several construction projects in Dubai and Abu Dhabi since 1975, many of which are considered landmarks in the UAE and soon to be recognised worldwide. Some of these buildings and landmarks include the Jumeirah Beach Residences, Al Mazaya Sky Gardens, Emirates Hills Developments as well as DIFC Gate Village.For further information, please contact:
Bassam Al Naimi
SAHARA Communications
+9714 3298996
Bassam@saharagcc.com
www.saharagcc.com
© Press Release 2009
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