Saudi’s Maaden awards $260m housing deal

Mining firm hands deal to Azmeel to build 800 new villas to house employees in Jubail
By Daniel Shane
Wed 13 Mar 2013 05:09 PM

Arabian miner Maaden has awarded an SAR1bn (US$260m) contract to Azmeel
Contracting & Construction Company to build a new housing project to
accommodate its employees.

The deal,
which includes procurement and engineering, is for the first phase of Maaden’s
Mutrafiah Housing Project at Jubail Industrial City, which includes 800 villas
set for completion late next year. When finished in its entirety, Mutrafiah
will comprise 3,600 villas.

employees are our partners in success; their dedication and performance will
help Maaden achieve our vision of becoming a world class minerals enterprise.
Today's announcement is an investment in them," said Maaden CEO Engineer
Khalid Al-Mudaifer.

As well as
Mutrafiah, Maaden is currently building more than 250 family apartments in
Jubail’s Jalmudah District, with the first batch of units scheduled to be
handed over in the second quarter of this year.

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