Kuwaiti group awards contracts in mega Red Sea resort project
The Kuwaiti-based Kharafi group said Wednesday, April 4, it has awarded major contracts to build water and power plants for the $1.25 billion resort at Port Ghalib on the Egyptian Red Sea.
Contracts were awarded to BWSC Scandinavian Contractors from Denmark for an electrical power plant, Metito Overseas Ltd. from England for a water desalination plant, and SEGHERS Better Technology for Water from Belgium for a wastewater treatment plant.
The value of these specific projects was not disclosed.
"These utility construction contract awards are key elements and milestones in our development plan," James Pringle, senior counselor for the M.A. Kharafi group, said in a statement faxed to AFP.
"We are committed to having all utilities installed and operational prior to any land sales and superstructure development at Port Ghalib," he said.
The resort is scheduled to open in 2003 or 2004, a project spokesman said.
"We are currently dredging the natural harbor for what will become the 1,000 berth marina that will affront a highly animated town center and corniche with shops, galleries, boutiques, restaurants and bistros, and an entertainment island offering theatrical shows, edutainment, multiplex cinema, disco, clubs and other attractions," he said.
The investment for the marina and the resort is estimated at $1.2 billion, and that for the airport is 50 million dollars, funds that will come mainly from the Kharafi group, the project spokesman said. — (AFP, Cairo)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)