2240 · 16/10/2006 14:10:54 · Announcement #9518 · View on Saudi Exchange

ZAMIL INDUSTRIES SUPPORTS KINGDOM-WIDE GOVERNMENT PROJECTS

Zamil Air Conditioners (ZAC), a unit of Zamil Industrial Investment Company and the leading Middle East and international manufacturer of air conditioning systems, was awarded two separate contracts by the government of Saudi Arabia to upgrade the air conditioning systems in schools and prisons across the Kingdom. The two contracts are valued at a total of SR 40 million (USD 11 million).

The first contracts scope of work includes the manufacture, supply and installation of a total of 11 modular package units, 3,000 room air conditioning units and 535 mini split units in 38 prisons around the country. This contract, worth SR 11 million (USD 3 million) was signed in August of this year with the Saudi Ministry of Interior following an initiative to upgrade the air conditioning systems currently installed in the Kingdoms prisons and is scheduled to be completed within 10 months.

Zamil CoolCare, the service arm of ZAC, will oversee the installation of the air conditioning units and will provide support service and maintenance to the prisons on completion of the project.

The second contract, valued at an impressive SR 28.5 million (USD 7.6 million), was signed with Saudi Arabias Ministry of Education, encompasses the delivery of 8,544 mini split wall-mounted units to a number of girls schools around the Kingdom.

This is the second contract awarded by the Ministry of Education and follows on the heels of the first contract awarded early last year. The scope of work continues with the second phase of a major government initiative aimed at expanding the schooling infrastructure and improving existing facilities in the Kingdom.

The signing of these two new contracts further strengthens our project portfolio, adding to it yet another dynamic angle. The government of Saudi Arabia, and in particular the Ministry of Education and the Ministry of Interior, has consistently been a key ally in supporting the rise and development of local industry, and we are therefore always happy to work with the government. We would also like to thank the government for its diligent efforts to bring their visions to life in the Kingdom of Humanity said Osama Bunyan, Executive Vice President, ZAC.

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