REG-Kentz Corp Ltd Re Contract
Released: 13/02/2009
com:20090213:RnsM2527N
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RNS Number : 2527N
Kentz Corporation Ltd
13 February 2009
Kentz Group awarded large engineering project in Saudi Arabia
February 13, 2009 - Kentz Group, through its operating unit Kentz Engineering
International Limited ("KEIL") and partner Radicon-Gulf Consult ("RGC"), is
delighted to announce that it has been awarded a contract worth in excess of
Saudi Riyals 131,361,500 (approximately US$35 million) for engineering and
consultancy services on the development of approximately 1,000 hectares of land
to the north of Jubail 2.
The award was made by the Royal Commission for Jubail and Yanbu under Contract
No. 027-T15. The work will commence later this month and the contract duration
is five years. This is the second contract that has been awarded to the KEIL
and RGC partnership in the past four months.
The new mandate, which will take 844,700 man-hours of engineering and design to
execute, includes the provision of studies and assessments for the necessary
engineering design of:
* Urban planning
* Design site development for Mutrafiah, Jalmudah and Regga
* Infrastructure; landscaping, schools, universities, sports facilities,
community buildings, clinics, power systems.
The previous contract covered mechanical, electrical and telecom systems, power
(high and low voltage) and fuel and feedstock systems along with roads and
material handling. Jubail 2 covers an area of 8,000 hectares and, with the
addition of a further 1,000 hectares, it will accommodate major primary and
secondary petrochemical industries as well as community housing and housing
infrastructure. On its completion, Jubail Industrial City will be one of the
largest of its kind in the world.
Dr. Hugh O'Donnell, CEO of Kentz Group, said: "We are delighted to be awarded
another prestigious contact from the Royal Commission, which reinforces the
strength of our partnership with Radicon-Gulf. It is exciting to be at the
forefront of the next generation of projects in Jubail and we look forward to
contributing to its successful completion."
Ends
For further information please contact:
Evolution Securities Limited (Nomad)
Tel: +44 (0)20 7071 4300
Rob Collins
Tim Redfern
Powerscourt (Financial PR advisors)
Tel: +44 (0)20 7250 1446
Elizabeth Rous
Rob Greening
About Kentz
Kentz listed on AIM on 5 February 2008, raising a total of £66.7m (US$ 131.8m)
before costs for the Company and its selling shareholders. The Kentz Group
provides a wide range of engineering and construction services, principally in
the oil services sector. Our core clients include international oil companies,
national oil companies and leading engineering and project management companies
with projects in over 20 countries. Kentz business lines are divided into three
areas: Specialist Engineering, Procurement and Construction (EPC); Construction;
and Technical Support Services.
Kentz currently has in excess of 10,000 employees worldwide, delivering projects
for our core clients in the Middle East, Southern Africa, Australia, Far East
Russia, the Caribbean, South East Asia, USA, Canada and Europe. For operational
purposes the Group divides its operational management centres into four
regions:
* Middle East;
* Africa;
* Arctic Region and New Areas (containing FSU/Russia, the Caspian region
andCanada); and
* Australasia, Europe and the Caribbean.
This information is provided by RNS
The company news service from the London Stock Exchange
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