Saudi Arabia's Red Sea International Company (RSI) announced on Wednesday the signing of a contract with Samsung C&T to design and build modular accommodation complexes in Abu Dhabi, UAE.

The Tadawul-listed RSI provides housing solutions in remote locations for clients in the oil and gas and mining industries. 

In a stock exchange statement, the company said the $14.25 million (53.42 million Saudi riyals) contract involves the design, supply, and construction of three modular accommodation complexes for Samsung C&T in support of Abu Dhabi National Oil Company's (ADNOC) strategic project to decarbonise its production operations.

The statement said the three complexes would be distributed between two onshore locations (Al-Mirfa and Shuweihat) and an offshore location (Das Island) in Abu Dhabi and accommodate up to 800 staff.

The duration of the contract is eight months, the statement noted, adding that the scope of work also includes the provision of turn-key modular solutions for the support facilities such as catering facilities and emergency aid buildings, gymnasiums, and recreational areas.

(Writing by Anoop Menon; Editing by Seban Scaria)
(anoop.menon@lseg.com)