Emaar, The Economic City signs deal with Rezayat Aggreko to provide temporary power for KAEC

Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a contract worth SR25m with Rezayat Aggreko, the joint venture of Saudi Arabia-based Rezayat Group and Aggreko Plc, the global leader in the rental of power generation systems, to provide temporary power services for KAEC.

Saudi Arabia: Thursday, July 17 - 2008 at 07:31
PRESS RELEASE

R to L: Mr. Fahd Al-Rasheed, Chief Executive Officer and Board Member, Emaar. E.C, and Mr Shakeeb Alireza, General Manager, Rezayat Group; during the signing of the contract.

related stories

Emaar, The Economic City RSS feed

» more Emaar, The Economic City news

Mr Fahd Al-Rasheed, Board Member and Chief Executive Officer, Emaar.E.C, and Mr Shakeeb Alireza, General Manager, Rezayat Group, signed the contract, recently, in Jeddah. According to the terms of the contract, Rezayat Aggreko will provide temporary power for KEAC through turn-key power packages that will enable KAEC to put its extensive projects and infrastructure in operation.

Mr Al-Rasheed said:

'KAEC is ushering in a new era of socio-economic prosperity in the Kingdom through its focus on building world-class infrastructure that support high-growth industries and thus promote inward investment. Rezayat Aggreko has proven expertise in providing immediate power supply for projects, and our contract will enable the completion of KAEC's various zones in an accelerated schedule.'

Mr Alireza said: 'Rezayat Aggreko has participated in various development projects in Saudi Arabia, and it is our privilege to be associated with KAEC, the largest private sector project in the Kingdom. The cutting-edge capabilities of Aggreko and the superior service standards of Rezayat will ensure that the temporary power supply needs of KAEC are effectively met through this agreement.'

Eng. Akram Jawah, Executive Director, Engineering - Projects, Emaar.E.C, said: 'Temporary power will be provided by generators across three sites - the Bay La Sun Village, Central Business District and Esmeralda Suburb. This will enable us to speed up the operation and completion of the KAEC infrastructure as per schedule.'

Mr Julian Ford, Marketing and Business Development Director for Aggreko International, added: 'Aggreko has provided power to some of the largest construction projects in the Middle East, so we are pleased to continue this tradition by working with Emaar in order to provide temporary power for King Abdullah's Economic City.'

King Abdullah Economic City is spread over 168 million sq m on the Red Sea Coast and has six key components: the Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort District and Residential Communities. The first phase of the project has been launched to overwhelming investor response and work is on-going according to schedule.

ADD ARTICLE TO
Facebook
del.icio.us
Digg

Index : Company News : Emaar Properties : Emaar, The Economic City

Browse related articles

« Previous article Next article »

Today's most read articles:

Notes and media contacts

About Emaar, The Economic City:
Emaar, The Economic City (Emaar.E.C), established in September 2006, 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. Thirty per cent of the equity, worth SR2.55bn, was offered for public subscription.

Emaar.E.C leads the master-planning and development of the 168 million sq m 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 - sea port, industrial district, 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.

About Rezayat Aggreko:
Rezayat Aggreko is a joint venture between the Rezayat Group and Aggreko plc. Aggreko is the world leader in the supply of temporary electrical power, air-conditioning, temperature control and oil-free compressed air. The company currently operates an international network with business in more than 60 countries around the world.

Rezayat Aggreko operates from Al-Khobar, Riyadh and Jeddah, providing a fleet of power generators, load banks, transformers, chillers, air conditioning and oil free air compressor equipment for rent. It is registered with leading clients such as Saudi Aramco.

For more information, please contact:
Bashar Kharbat / Rayyan Dahlawi
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196

Nivine William / Kelly Home
ASDA'A Public Relations
Dubai, UAE
Tel: (+971 4) 334 4550

Posted by Anne-Birte Stensgaard, Senior News Editor
Thursday, July 17 - 2008 at 07:31 UAE local time (GMT+4)

Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.

Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com

Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.

For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions