October 11, 2008

Red Sea Housing Services awarded SAR 88 million deal

Red Sea Housing Services has announced their successful win of an SAR 88 million contract from Kellogg Brown & Root for the construction of a 450 man camp complete with offices, warehouse and workshop facilities. The contract is for building facilities at the Skikda Liquid Natural Gas Plant in Algeria and is an addition to the company's portfolio of projects in the country, spanning over the past 15 years.

Mr Glen Warren executive VP of International Business Development for Red Sea Housing Services said that "This is yet another milestone for Red Sea and highlights our long lasting relationship with many construction, mining and oil and gas companies in Algeria. This is just the first in the series of LNG related projects in Algeria that are coming on stream in the near future and as the contractor of choice at Skikda, this gives us a head start in this key strategic location."

The successful win of the contract comes in addition to a recent top rating from US Business Information provider Dun & Bradstreet. The firm awarded Red Sea Housing a rating of 5A2, the second highest rating, which takes into account several factors such as trade reference history and management experience.