RIYADH: A local firm based in the Eastern Province has expressed interest in funding and supervision of projects in the public and private sectors in Uruguay, according to Uruguayan Ambassador Carlos A. Mora.

In a letter sent to the Uruguayan Embassy in Riyadh, Amir Qayyum, Advanced Electronics Systems International (AESI) business development director, said AESI, a management contractor, in conjunction with AAE Systems, Inc. (AAE), offers various management services in project, engineering and procurement.

AAE, headquartered in Silicon Valley, California, in the United States, is a global engineering company specializing in infrastructure development and implementation. AAE is an ISO 9001:2008 registered company founded in 1984 as a telecommunications systems integrator and has become one of the leaders in the industry.

Qayyum said financing is predicated on AESI being responsible for supervisory services for the overall program (construction, engineering, procurement as well as health, safety and environment).

“AESI, in conjunction with AAE, will supervise the project as well as be responsible for verification of payment requests against contracts and disbursement of all contract payments,” Qayyum said.

He added that one of AESI’s core principles for the project development is to maximize local participation through nominated subcontractors. AESI will tender sub-contract work to an agreed list of qualified companies with relevant project experience.

He also said that the tender analysis will be transparent throughout the process and that local contractors will be used for all activities where project risk is clearly defined or non-existent. A fixed price and time contract will be signed with preferred bidders.

Qayyum added that project financing will be offered contingent on a feasibility study, project requirements, as well as mutually agreeable terms and conditions.

The amount of project finance is contingent upon the final project requirements, the competency of any existing design and construction documents as well as mutually agreeable terms and conditions. The amount of the project is also contingent on the value of the project guarantee.