Hail Cement Co said that it had signed a housing contract with the JV of Teberak Trading and Contracting Company and Mo B Co for Civil Construction. The contract value is SAR117.8m (US$314.6m).
It said the project will be completed in four phases. The first phase will be completed in 11 months, the second in 14 months, the third in 16 months and the fourth in 18 months.
The total area of the housing campus is 80,000m2 out of which the built up area is 45,000m2 comprising 19 Villas, 120 apartments for families, 108 single rooms for bachelors, a building of 12 studios for guests and 2 buildings of 24 studios for supervisors.
The location is adjacent to the cement plant in Turbah about 220km north of Hail. The financial impact will effectively begin in January 2012.