Ladun’s subsidiary wins SAR 102.57 mln project from RCJY

Logo of Ladun Investment Co.

Ladun Investment Co.’s subsidiary, Built Industrial Co., won a contract worth SAR 102.57 million (VAT inclusive) from the Royal Commission for Jubail and Yanbu (RCJY) for a project in Jazan City for Basic and Transformation Industries.

Under the deal, Built Industrial will design and construct the second phase of family housing, as part of the comprehensive development of a 25,234-square-meter land plot in Jazan City for Basic and Transformation Industries, Ladun said in a statement to Tadawul today, Oct. 16.

The project will be carried out under an engineering, procurement, and construction (EPC) turnkey contractual model for a number of residential buildings, it added.

The scope of work includes preparing the general site for building, excavating and leveling the ground, constructing roads and parking lots, as well as installing the distribution systems for drinking water, firefighting water, sewage, and irrigation. This is besides setting up systems for electric power, street lighting, communications, and surveillance, in addition to landscaping work.

The contract is expected to be signed on Nov. 15, the company said, indicating that there are no related parties.