DAMMAM, 9 September 2003 — A Malaysian company is keen to invest in the Kingdom’s power and water sector and is bidding to participate in the ambitious Shuaibah Project in the Western Province.
Yaseen Al-Suroor, economic adviser of Tanaga, told Arab News on Sunday such projects had great potential and were extremely profitable. He said Tanaga International BHD Company of Malaysia was bidding for three other projects besides Shuaibah.
He said bidding for the Shuaibah project would be worth nearly SR1.32 billion ($350 million), out of which the government’s participation will be 40 percent. The rest will be owned by the foreign company. The entire Shuaibah project is worth SR5.25 billion. Tanaga is one of the largest companies in the power, engineering, design and construction sectors in East Asia.
