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KAEC awards Red Sea Housing SR85m deal

King Abdullah Economic City (KAEC) has awarded Red Sea Housing Services (RSHS) a SR85m contract set up its plant within the economic city industrial zone in Rabigh, Arab News has reported. "The construction of the new factory will begin this year and expected to be operational next year," RSHS said. The company added that the financial impact for constructing the factory will commence in third quarter of 2013, said RSHS. "Related information will be disclosed in due course," the firm said.