Home / Company / Saudi Arabia’s Tadawul-listed Al Yamamah Steel wins $107m contract for Dubai CSP park

Saudi Arabia’s Tadawul-listed Al Yamamah Steel wins $107m contract for Dubai CSP park

Saudi Arabia’s Tadawul-listed Al Yamamah Steel has signed a $106.7m (SAR400.3m) contract with Spain’s Europea de Construcciones Metalicas to supply steel for a solar park project in Dubai.

The four-year contract, signed off on 3 March, 2019, will see the steel manufacturer delivering its products from September 2019 under an extendable, 26-month deal. The project’s formal name was not included in the missive by Al Yamamah, but the company said that its delivery will support Phase 4 of the development.

In a separate statement, the steel-maker said the commercial start-up of Al Yamamah Solar Power Systems’ factory will begin in Q2 2019, with the facility to produce and deliver the steel structure system that will make up the concentrated solar plant (CSP) component of the Dubai solar park project.

Construction Week has contact Al Yamamah’s representatives for the project’s formal name, and will update this story when additional information is available.

The latest contract will have a financial impact on Al Yamamah from Q3 2019, through to the end of the 26-month deal.

With production facilities in Jeddah, Dammam and Yanbu, the Al Yamamah group lists Abu Dhabi’s Masdar, state-owned oil and gas giant Saudi Aramco, and Saudi Electricity Company as some of its clients.

Source: http://helioscsp.com/

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