Dr Abdulraouf Mannaa, Managing Director, Emaar.E.C, and Mr George Antonopoulos, CEO, SETE Energy Saudia, signed the MoU, for the 70,000 cubic metre per day sea water reverse osmosis plant, which will meet the needs of the first phase of KAEC, the single largest private sector-led development in the region.
'To ensure a city of this size with various zones operates efficiently, it is imperative for KAEC to have a strong infrastructure,' said Dr Mannaa. 'Water supply is an important infrastructural component and to ensure efficient access to water, we have joined hands with SETE Energy Saudia, a company that has proven track record in undertaking water desalination operations in the Kingdom.'
Mr Antonopoulos added: 'KAEC is one of the pioneering developments in Saudi Arabia and we are excited to have the opportunity to provide our water desalination technology and know-how for this futuristic city.'
The plant will be completed in five stages with the first phase to be executed in one year. The rest of the phases will be completed in 21 months. On completion, the plant will be equipped to meet all the water requirements for the first phase of KAEC including the Industrial Zone, Residential Communities and Resorts.
Located on the Red Sea coast, KAEC has six key components: the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. Work is progressing according to schedule on the Industrial Zone, Residential and Resorts Districts. Potential investors can visit the KAEC Presentation Centre for more details and for registrations.
Emaar, The Economic City signs MoU with SETE Energy Saudia to set up water desalination plant at King Abdullah Economic City
Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a Memorandum of Understanding (MoU) with SETE Energy Saudia for Industrial Projects Ltd for setting up a desalination plant on Engineering, Procurement and Construction (EPC) basis.
- Saudi Arabia: Sunday, August 05 - 2007 at 13:06
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About Emaar, The Economic City:Emaar, The Economic City (Emaar.E.C) is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world's largest property developers, and a number of high profile investors from Saudi Arabia. Emaar.E.C has a share capital of SR8.5 billion consisting of 850 million shares of nominal value SR10 each. Shares worth SR2.55 billion were offered for public subscription.
Emaar.E.C leads the master-planning and development of King Abdullah Economic City (KAEC), a project being built on a pristine location off the Red Sea in the north of Jeddah. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC.
KAEC, a New Age City being built today for tomorrow's generation of Saudi citizens, has six components - the sea port, industrial zone, educational zone, central business district with commercial, mixed-use, retail outlets and financial island, resorts and residential area.
The mega-project works closely with the Kingdom's on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to one million employment opportunities in the various industries and service-oriented companies that will open in KAEC. It will also be home to 2 million residents.
For more information, please contact:
Bashar Kharbat / Saleh Hamamy
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 657 5194/ 195/ 196
Fax: (+966 2) 657 5277
Nivine William / Kelly Home
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in MENA
Dubai, UAE
Tel: (+971 4) 334 4550;
Fax: (+971 4) 334 4556
Posted by Lara Lynn Golden, News EditorSunday, August 05 - 2007 at 13:06 UAE local time (GMT+4)
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