The contracts detail infrastructure work on Durrat Al Bahrain and construction of King Hamad General Hospital in Muharraq. The projects will be executed in joint venture with Burhan International Construction Company W.L.L. of Kuwait.
The first project, valued at BD 9.7 million (USD 25.7 million), is to carry out phase 1 construction and rectification works on the Durrat Al Bahrain infrastructure. The project will focus on Durrat Al Bahrain's three islands -Petal 1, Atoll 1 and Atoll 2 - as well as the two bridges connecting Petal 1 with Atolls 1 and 2.
Nass Burhan Joint Venture has also been awarded a contract from the Ministry of Works and Housing for the construction of the new King Hamad General Hospital in Muharraq, Bahrain. The contract is valued at BD 49.3 million (US $130.8 million).
The work detailed encompasses the construction of the four-storey hospital, in a three block configuration separated by courtyards. Each block is connected to its neighbors via two parallel sky-walks running East-West.
The work also includes the construction of a car park capable of accommodating 951 cars, a helipad on the second level directly accessing the emergency department and all associated civil and site works, from landscaping to connecting the hospital to the adjacent services infrastructures.
"The signing of these new projects adds to our growing portfolio of alliances and further strengthens our lead in an expanding range of diverse construction projects across the region," said Sameer Abdulla Nass, Managing Director of Nass Corporation BSC. "Winning this new assignment reflects the industry's confidence and regard for the quality and reliability of our work."
Nass Contracting is currently involved in two other Durrat Al Bahrain projects including a joint venture project with Great Lakes Dredge & Dock Company for dredging, reclamation and shore protection works and a joint venture construction project with Murray & Roberts for the construction of the Durrat Bridges.
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NASS Contracting joint venture secures BD 59 million (US $ 156.5 million) joint venture projects
- Bahrain: Sunday, August 27 - 2006 at 13:40
- PRESS RELEASE
Bahrain based NASS Contracting, a wholly owned subsidiary of NASS Corporation BSC, has secured two joint venture projects worth BD 59 million (USD 156.5 million).
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About Nass Corporation BSC:Nass Corporation BSC is an industrial and commercial organisation providing construction and contracting solutions for large-scale infrastructure development projects throughout the GCC region. It comprises 4 companies and 6 divisions, which were previously a part of the construction, manufacturing and other related businesses of Nass Group, a family-owned establishment, which celebrated its 40th anniversary in 2004.
Nass Corporation BSC has a paid-up capital of BD 20 million (US$ 53 million) and is headquartered in the Kingdom of Bahrain and is listed on Bahrain Stock Exchange. It is 51% owned by its founding shareholders, the Nass family; 24% by a 15-strong group of strategic private and institutional investors from the Kingdom of Bahrain, Saudi Arabia, United Arab Emirates and the Sultanate of Oman. 25% of shares are held by public investors.
The creation of Nass Corporation BSC in 2005 represents the first regional family-owned conglomerate operating in the construction sector to go public and the largest Initial Public Offering (IPO) to have taken place in the Kingdom of Bahrain in eight years.
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Posted by Janeta Novakovic, Assistant News EditorSunday, August 27 - 2006 at 13:40 UAE local time (GMT+4)
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This article was updated on Tue May 01 2007.
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