Red Sea International Company, a leading provider of specialised prefabricated modular buildings for various real estate and industrial sectors, has announced that its key subsidiary, Fundamental Installation for Electric Work Company, has secured a SAR220 million ($58.6 million) contract from Al Arab Hospital Company for the construction of a premium healthcare facility in Jeddah.
The 19-storey hospital, comprising two basement levels, will be located on the Corniche Road in the South Obhur district of Jeddah.
The key contract covers the supply, installation, testing and commissioning of mechanical, electrical and plumbing (MEP) works, as well as screed works, internal partitions and other civil works, said Red Sea International Company in its filing to the Saudi bourse Tadawul.
The entire work on the hospital project will be completed by Fundamental Installation for Electric Work within 420 calendar days, it stated.
One of the top standalone MEP contractors, Fundamental has delivered several major projects in the kingdom. It specialises in providing integrated design, engineering and construction services to these projects.
