Red Sea Housing Services Company (Tadawul:4230), the shelter expert of the Middle East, Africa and Asia has announced two prominent agreements for the purchasing of its modular housing solutions.
Dr Majid Al Kassabi chairman of Red Sea Housing Services announced that Red Sea had signed an agreement with Nesma and Partners Contracting Co. Ltd. to provide temporary facilities at Khurais, Saudi Arabia to support the Grass-Roots Refinery being built there by Saudi Aramco. The project includes all temporary buildings for the Aramco project management and staff. The SR 25.2 million deal consists of 700 module floors to be produced, delivered and installed.
“This contract with Nesma represents the progressive growth of our primary business,” said Donnie Sumner of Red Sea Housing. “Our company continues to be a dominant presence in the market for remote site housing and camp accommodations and housing, especially in the area of support for the oil exploration industry.”
Red Sea has also recently agreed to a contract with SNC-Lavalin Europe B.V. Branch and Saudi Arabian Saipem Ltd. to aide in their expansive design and construction of seawater injection plants which will form a key part of the Khurais Oil Field Development Program in Saudi Arabia. The agreement is worth SAR 96,000,000. This project by Saudi Aramco is of critical importance to the Saudi oil industry.
“Our agreement with SNC-Lavalin and Saudi Arabian Saipem allows us to play an important role in regards to regional oil exploration,” added Donnie Sumner General Manager of Red Sea’s manufacturing facility in Jubail, “Red Sea has long prided itself on its strong position in the modular and remote site housing market of the Middle East and in all aspects of the oil industry and this agreement is a reflection of past successes. The strong demand for temporary accommodation due to the construction boom in this region will continue to allow Red Sea to benefit extraordinarily.”
The seawater injection plants, the construction of which Red Sea Housing will play an instrumental part, will boost the production capacity of Saudi Arabia’s oil fields from 11.3 million barrels/day to 12.5 million barrels/day by 2009.
