Ladun’s subsidiary secures SAR 189.5M project with RCJY

Logo of Ladun Investment Co.

Ladun Investment Co. announced that its subsidiary, Built Industrial Co., won a project worth SAR 189.49 million, including VAT, from the Royal Commission for Jubail and Yanbu’s (RCJY) Jazan City for Primary and Downstream Industries (JCPDI).

In a statement to Tadawul, the company said the project aims to establish family housing in the residential area (1) of JCPDI. The comprehensive project scope includes supply and construction, family residences, site development, testing, operation, and project delivery.

The contract mandates the responsibility of sourcing all materials, labor, supervision, tools, equipment, and necessary technical and professional services for the successful execution of the project, according to the statement.

Specifically, the project aims to construct 22 buildings, comprising a total of 146 residential units. These structures are carefully designed to offer comfortable and modern living spaces for families.

The scope of work encompasses extensive site development, covering civil, structural, and electrical aspects. This includes the establishment of an electricity distribution system, communication infrastructure, and other essential facilities, the statement added.

The final phase of the project involves testing, operation, and project delivery to ensure the safety and effectiveness of all services provided.

The company expects to sign the contract on Jan. 7, 2024, noting that there are no related parties to the contract.