Under the agreement, a new company will be formed called RDB El-Seif, which will manufacture and supply pre-cast concrete to be used in the construction of prefabricated buildings and other structures on civil and industrial projects.
Construction work is expected to begin soon on a new plant in Riyadh, which should be operational in April 2009.
RDB will provide technical and operational expertise in prefabricated, reinforced content.
El-Seif is one of the bidders on the SR600m ($160m) Lamar Towers project in Jeddah. Located on the Jeddah corniche, it involves the construction of two towers on a common podium. The taller of the two towers will reach 310 metres (MEED 1:4:08).