PROJECTS: Saudi’s Red Sea Global awards Turtle Bay Village school construction contract

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LADUN

9535.SA

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Staff Writer

Saudi Arabia’s Ladun Investment Company announced on Thursday that its subsidiary, Built Industrial Company, has secured a 131 million Saudi riyals (approximately $35 million) contract with The Red Sea Global for the construction of a new school in Turtle Bay Village.

The Village is a residential and commercial area designed to house around 14,000 workers, staff, and management at The Red Sea luxury tourism project on the West Coast of the Kingdom, according to Red Sea Global website.

The project scope includes construction of a school complex comprising nursery, nursery, kindergarten, primary, and middle school buildings; gymnasium; technical building; security room and external infrastructure works, Ladun said in a stock exchange statement.

The contract duration is 547 days, it said.

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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