|End-of-day quote - 07/03|
Red Sea International Co. Announces the Signing of a Contract with Samsung C&T04/27/2022 | 12:10am
Red Sea International Company (RSI) announced the signing of a contract with Samsung C&T to provide accommodation complexes to support ADNOC’s initiative for the decarbonization of onshore and offshore production operations in the UAE. Contract Value: USD 14,246,112 (equivalent to SAR 53.42 million), Red Sea International Company (RSI) was awarded a contract to design, supply and construct a total of three accommodation complexes for SAMSUNG C&T to support ADNOC’s decarbonization of onshore and offshore production operations in the UAE. The high-quality complexes will be located in two onshore locations (Al-Mirfa and Shuweihat) and another offshore location (Das Island) in Abu Dhabi; and will accommodate up to 800 professionals including Seniors and Juniors. The scope of work also includes the provision of turn-key modular solutions for the support facilities such as catering facilities and emergency aid buildings, gymnasiums and recreational areas. Contract Details: Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company announced a $3.6 billion strategic project to significantly decarbonize ADNOC’s offshore production operations, further strengthening ADNOC and TAQA’s position in driving and leading sustainability efforts and supporting the United Arab Emirates ‘Net-Zero by 2050 Strategic Initiative’. To ensure swift delivery of the project with the set timeframe, RSI will coordinate and execute the complete engineering deliverables between its regional offices then implement the manufacturing process from its Dubai facility before mobilizing the installation team to complete the project. Contract Duration: Eight Months.
© S&P Capital IQ 2022
All news about RED SEA INTERNATIONAL COMPANY