11/16/2016
Tekfen İnşaat Signs a Contract for Construction of a Pipeline with Saudi Arabian Aramco
Having undertaken the turnkey construction of 333-km pipeline project between Yanbu and Jeddah has signed the final $299.312.000 agreement with the Saudi Arabian company Aramco...
A leading Turkish overseas contractor Tekfen İnşaat has undertaken a new pipeline construction project abroad. Having undertaken the turnkey construction of a pipeline project from Yanbu to Jeddah, Tekfen İnşaat signed a 299,3-million-dollar agreement with Aramco. The agreement was signed for the pipeline project. The statement made by Tekfen is as follows: "It was announced in our statement dated 31 August 2016 that a letter of intent was signed between our subsidiary Tekfen İnşaat and Tesisat A.Ş. and Aramco for a 333-km pipeline project between Yanbu and Jeddah. The final agreement has been signed on the same terms and scope for turnkey installation of the pipeline for $299.312.000 and delivery in 47 months." Tekfen Holding Chairman Murat Gigin: "We have made contracts for more than 3 billion dollars' worth of new projects on the contracting side": Murat Gigin, the Chairman of Tekfen Holding, which celebrates its 60th anniversary this year, talked about the the projects and objectives of the company in Baku. Stating that they did not restrict the operations of Tekfen Holding with Turkey, Gigin said: "We have too much experience and intellectual background to be limited to certain physical borders. We do not only limit our operations to Turkish territory but we consider real estate development abroad. There are several projects that we are working on, including trade centers, offices, residences for sale and for rent. It is a combination of several projects". Regarding their operations in construction industry, Gigin said: "We have made contracts for more than 3 billion dollars' worth of new projects on the contracting side. This will double the turnover of our construction group in 2 years. We have already secured contracts confirming my former statement that 'we will be doubling our existing turnover in 5 years'". "We also would like to take part in interesting projects in the energy sector now": Gigin said that they had operated in the contracting side of the energy sector so far, and that now they would also like to take part in interesting projects as investors. Pointing out that they were working on solar, wind, and geothermal power projects, Gigin said that their contracting side also received several invitations for nuclear power plants, however they had not made their decision yet.
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