Arabtec Construction, L.L.C, a subsidiary of Arabtec Holding, PJSC, announced yesterday that it has broken grounds on its first project in Saudi Arabia on 2 April, 2009, Arabtec broke ground, less than one month after signing the MOU for the formation of Arabtec Saudi Arabia on 7 March, 2009.
The fast–track mobilization of Arabtec’s workforce and equipment to Saudi Arabia facilitated this immediate ground–breaking for the new project which started in 2 April, 2009. “By now, grading and leveling for 70% of the plot area has already been completed” stated Raja Hani Ghanma, Director of Arabtec in Saudi Arabia, assigned to the project.
It is worth noting that an MOU for a partnership agreement between Arabtec Construction, L.L.C., Prime International Group Services Ltd. and CPC Services Company (a member of the Saudi Bin Laden Group), was signed for the creation of Arabtec Saudi Arabia in early March.
This sub–contract to the Saudi Bin Laden Group, with an approximate value of 1.5 billion Saudi Riyals, has a total built up area of approximately 250,000 square metres, 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.