Saudi Arabian National Guard Housing project : Ranco & Zamil awarded $65.3m contract

Rabiah and Nassar and Al Zamil Concrete Industries Company Ltd. (Ranco & Zamil), a 50-50 joint venture between Zamil Industrial Investment Co. (Zamil Industrial) and Rabiah and Nassar Group, has been awarded a new contract from Saudi Oger Ltd. worth SR245m ($65.3m).

The project entails the fabrication, supply and erection of Precast Villas for the Saudi Arabian National Guard Housing project located in the central region of Saudi Arabia.

The contract was signed on Wednesday, 15 February 2012 in Riyadh, Saudi Arabia.

The scope of the agreement includes the design, manufacture and installation of precast villas for the Saudi Arabian National Guard Housing project, an expansive project for guard personnel that also includes villas, schools, shops and mosques in Khashm-Alaan area, east of Riyadh.

Ranco & Zamil will begin the supply and installation of the precast villas during 2012, and continue through the end of the third quarter of 2013. The contract's positive impact on the company's consolidated financials will be visible upon completion of each stage of construction.