The Istanbul-based Alsim Alarko has been awarded a $30 million subcontract to build a hospital in Kazkazgan, Kazakhstan, by the main contractor, South Korea's Samsung Corporation. The Turkish company also hopes to conclude negotiations soon for about $39 million worth of contracts in Russia.
Work has already started on the hospital, for completion in about 22 months. Alsim Alarko will carry out all the civil engineering and mechanical and electrical work required, while the South Korean company will supply the equipment and furnishings for the 100-bed facility. The Kazakh authorities are paying Samsung by barter in copper but Alsim-Alarko is paid by the latter in cash.
Alsim Alarko is also hoping to finalise a deal as main contractor for a business centre in Moscow valued at about $22 million. The developer is a venture between a subsidiary of Moscow municipality and a UK company identified as Microdin. Another contract, valued at about $22 million, in the pipeline for Alsim Alarko is for the construction of a mill in a paper-making complex in St Petersburg, mainly to produce paper for bank notes. The client is Goznak, an enterprise run by the Russian Finance Ministry. Alsim Alarko has already installed a water treatment plant at the complex.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.