Work resumes on Jeddah Tower, contractors invited to bid

Jeddah Economic Co. (JEC) resumed works on Jeddah Tower that will exceed 1,000 meter length, MEED business magazine reported, citing CEO of Kingdom Holding Talal Al Maiman.

The tender is officially open, the CEO stressed, indicating that the company invites contractors to submit their bids by the end of this year to obtain a contract for the completion of works.

The invited contractors are namely Almabani General Contractors, Al Bawani, China Harbour Engineering Co. (CHEC), Consolidated Contractors Co., El Seif Engineering Contracting (ESEC), Hyundai Engineering & Construction, M., A. Kharafi & Sons, Nesma & Partners Contracting Co., Power China, Samsung C&T, Freyssinet Saudi Arabia, Skanska and STRABAG International GmbH.

The companies are given a three-month time limit to submit their bids, Al Maiam noted, expecting the companies to form joint ventures and alliances of local and international partners.

JEC requested the SAR 653 million worth performance guarantees or bonds provided by the project former contractor, Bin Laden Group Co., the CEO added, noting that Kingdom Holding, Bakhsh Group, and Sharbatly Group own a stake of Jeddah Economic Co. of 40%, 40% and 20%, respectively.

According to data available with Argaam, the Jeddah Tower project is part of the Jeddah Economic City project, which spans over an area of 5 million square meters, and is owned by the JEC.

source : Arqaam