Madinah-based EKC, American ICOM sign SR 54m Contract

Jeddah, July 14, SPA -- The Madinah-based economic knowledge city
(EKC) signed today an agreement with the American Management Company
'ICOM'.

Under the agreement, the American company will undertake a
comprehensive management for the existing development projects in
Madinah.

The value of the contract, signed by Executive President of Economic
Knowledge City Eng. Tahir Bawazeer and ICOM'S Executive President
Douglas Macrikein, amounts to SR 54 million.

Eng. Bawazeer said the contract comes within the framework of the
on-going efforts to attract the distinguished international expertise
for boosting the projects by advanced programs.

On his part, Macrikein highlighted the steadily growing Saudi
economy and reiterated the keenness of his company on enhancing
cooperation with the national companies.

He noted that under the contract the company will provide the
Economic Knowledge City with the required comprehensive
administration.

--SPA