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CEO's Speech Regarding the Application of FIDIC Contracts by National Water Company (NWC) in Future Projects

By: CEO National Water Company | Saturday, 27 February 2010 02:55 PM


Tags: FIDIC Contracts

Dear brothers and sisters,
Customers of NWC


Peace and mercy of be upon you,


I feel very pleasant to share with you NWC news concerning the application of FIDIC contracts by our company as part of its plan to implement its future projects. Undoubtedly, FIDIC contracts will enable NWC in realizing an effective mechanism to shorten project implementation period, accelerating its delivery rates, and making the optimal use of such projects, so as to help the company in finding the best ways of providing services to its customers and achieve the goals and objectives contained in the Corporate Establishment Resolution. It should be known that NWC is one of the fewer public- and private-sectors companies that apply FIDIC contracts around Saudi Arabia. FIDIC contracts were prepared in collaboration with international consultancy firms and are characterized by its ability to preserving contractors' rights, specifying the obligations as per change of prices and payments delivery dates. As well, it determines percentages of damage and penalties, assigns responsibilities in accordance with controls that apply to all contract parties and its circumstances, identifies a clear role for the consultant supervising the implementation of the project, and charges this consultant with a key role as it is a cornerstone of the contract delivery.


We ask Allah, the Almighty, to crown our efforts with success and rightness.
Your Sincerely,


Loay A. Al-Musallam
NWC CEO

 

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