Our bid of 699,450,000 Qatari Rials (approximately USD 192,156,593) issued by ANEL MEP Maintenance and Operations LLC, our affiliate residing in the State of Qatar, for the electrical and mechanical works project of Lusail Plaza Towers (Plot 3&4) of Lusail Real Estate Development Company under construction in Lusail, Qatar has been approved by the main contractor Hyundai Engineering & Construction Co., Ltd. Company (Hyundai) and a letter of authorization (Letter of Award) has been signed by the parties.
The contract has been signed between ANEL MEP Maintenance and Operations LLC and Hyundai Engineering & Construction Co. Ltd. on June 29, 2020. Advance and final warranty letters with total amounts of USD 38,431,318.68 (QAR 139,890,000) for the project were delivered to Hyundai Engineering & Construction Co. Ltd. company (Hyundai), the main contractor of the project. The project, which is part of the Lusail Financial Center and is one of two 70-story skyscrapers, is planned to be completed by the end of October 2022.
