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Steel Towers & Galvanizing, a unit of Zamil Industrial Investment Company, has won a SR103 million contract for the fabrication and supply of 825 lattice steel towers for the Munifa-Qaisumah power line transmission project.
The project, which has the National Contracting Company as main contractors, will connect power lines between Munifa and Qaisumah in the north of the country.
The contract was signed on Saturday by Adnan Al Mansour, president of Zamil Steel, and Abdullah Al Brahim, general manager of National Contracting Company.
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Zamil Steel will start the supply of the towers early 2011 through the end of the first quarter of 2012. The contract will be recognised in the company’s financial statements upon completing each stage, Zamil has said
“This project is the result of ongoing collaboration between Zamil Steel and local contractors to execute Saudi Electricity Company infrastructure projects to enhance the existing network grid to meet the growing demand for energy,” said Mohammed Al Shallali, general manager of Zamil Steel T&G division.
Zamil is a Dammam-based construction-linked manufacturing conglomerate that produces steel products, glass, air conditioners and mirrors among other projects in a clutch of subsidiary companies of ZIIC.
In July the company revealed that it is spending SR40 million on a new galvanising plant in its home city. The plant has a galvanising basin that is 15.5 metres in length, 1.5 metres wide and 3.2 metres deep. The new capacity will potentially increase annual production capacity from 50,000 tonnes to 75,000 tonnes.
Yesterday, Zamil shares fell 0,7% to SR38, and has lost more than 17% in value since the start of the month following falls from 4th October.
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