Riyadh – Mubasher: Red Sea Housing Services announced on Sunday signing an award letter with Fluor Consultants (Kuwait branch) to construct a workers community in Kuwait.
The total value of the project amounts to KWD 4.64 million (SAR 57.49 million) and will be financed through the Saudi company’s available credit facilities and cash flows, according to a bourse filing.
The community is expected to be completed by 6 March 2017, while the financial impact is likely to appear in the third quarter of 2016.
“The project involves [the] complete construction of the infrastructure to support the utility requirements for the community such as water tanks, electricity generators and septic tanks,” the statement said.
The community’s facilities include indoor and outdoor recreation centers, security stations and other supporting facilities.
