Sharjah, 4th Aug 2008.

Sharjah Investment Center (SIC), the first of its kind multi-purpose project being master developed by SNASCO, has awarded a AED100 million contract to GECO for the supply and installation of eight 33kV main power stations over a period of 14 months, to supply 11kV of power to all the project's plots.

The agreement was formalized at a signing ceremony attended by Dr. Omar Al Mashaabi, Development Manager of SIC, who signed the agreement on behalf of SIC, and Mr. Ali Rizvi, GECO's General Manager, who signed the agreement on behalf of GECO.

Commenting on the agreement, Dr. Al Mashaabi said:" This contract is a new addition to the progress achieved in the SIC, and a reflection of our commitment towards investors and clients to supply electricity to all plots, and carry out all related works to have the project delivered to its investors as soon as possible."

"In our desire to appoint the best firms to carry out different parts of work in the project to the highest quality and on time, we have selected GECO to undertake the power supply works. This project came as the result of in-depth and extensive studies which we had conducted to realize the necessity of establishing various power plants that supply different capacities of power to perfectly cater to the needs of all plots of the project," he added.

On the other hand, Mr. Rizvi said:" supplying power for mega projects is considered one of the most considerable challenges facing real estate developers today. Therefore, Sharjah Investment Center's dedication to supply electricity to all plots of land within the project underlines their continuous commitment to gain client and investor confidence, spare them a lot of hassle and remove all the obstacles they may face in the future to get individual power generating units, as the plots range from industrial to commercial and residential".

It is worth mention that Sharjah Investment Centre had also awarded a contract to Darwish Engineering Emirates for the infrastructure works of the project, with the firm winning out over several other bidders.

The SIC is an ambitious project launched by SNASCO in November 2006. Located in the heart of Emirates Road, a few kilometers from Sharjah International Airport and Al-Hamriah Port, SIC stands as a vital, fully-integrated, multi-purpose project stretching over 32 million square feet. It features industrial, commercial and residential clusters/ compounds and provides a wide range of logistic and investment services that are likely to strengthen Sharjah's already robust economic position. Preliminary construction works started a month after the project had been officially launched.

-Ends-

About SNASCO:
SNASCO is a GCC based property developer with a number of landmark projects under construction in the UAE.  These projects cover all areas of property development, including a low-rise residential and commercial project in Sharjah, called Al Basateen, and a mixed-use industrial project called Sharjah Investment Centre (SIC). 

SNASCO has elaborate plans for further expansion throughout the region, and aims to develop properties with unique architectural and geographical characteristics, which reflect environmental sensitivity, impeccable planning and flawless execution.

For more information, please contact:
Serine Srouji
SAHARA Communications
Tel: +971 4 3298996
Fax: +971 4 3298995
Mob: +961 3 581 208                  
Email: serin@saharagcc.com
www.saharagcc.com     

© Press Release 2008