Build, Operate and Transfer (BOT) contract for the Development of a Logistics Park.
Client announced that it has awarded the Al Wukair Logistics Park development project to Gulf Warehousing Company (GWC), Qatar’s leading logistics provider. Under the agreement singed GWC will Build, Operate and Transfer (BOT) the development of the 1.48 square kilometer Al Wukair Logistics Park in a public-private-partnership deal with a 30-year lease tenure, and an investment value of QR1.5bn Manateq. The contract will allow GWC to design, finance, develop, operate and maintain the entire development, consisting of dry, cold, frozen and chemical storage facilities as well as light workshops and warehousing open yards. In addition, the Park will provide comprehensive solutions that include retail outlets, workers’ accommodation, first air clinic and a mosque. Clients of the new Al Wukair Logistics Park will also benefit directly from GWC’s 15 years of local, regional, and international logistics experience providing the highest standards of quality and solutions for clients in every industry. Al Wukair facilities will be built in a variety of sizes catering to small, medium and large enterprises giving all, from start-ups to established brands, the opportunity to benefit from the logistics park’s investment incentives. Work on the park is set to begin immediately with a first phase representing almost 40% of the park due for completion within two years, with the remainder due to be developed within five years. The Facility is proposed to be developed with 15 % Equity and 85% Debt. However, considering that the development will be done in 2 phases and 75% of the Project will be completed before Equity investments are needed, the project may self-finance the final phase of development from retained earnings that accrue from the project itself. Redco International will carry out the main construction contract on this scheme.
Construction works have commenced on this development.
Construction works are currently in progress on this scheme.
December
21
2021
Tuesday
LAST UPDATED
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