Date: Dubai, UAE; May 25, 2021
The leader in offsite modular production and assembly, Red Sea International Company (RSI), has announced the appointment of its new Managing Director and Chief Executive Officer (CEO), Mr. Khalid Mohammed Fagih.
With a 26-year track record in business management and corporate leadership transformation, Khalid’s appointment comes at an exciting juncture of RSI’s journey towards business restructuring, consolidation, and transformation.
RSI looks to catapult its operations by developing its products and services, improving performance, reducing costs, adopting digitisation, and closing low-performing assets. Towards this end, the company looks to capitalise Mr. Khalid’s extensive experience managing high-profile transactions with government and private sector companies, to foster tactical partnerships that can deliver significant value for the company.
With these efforts, RSI intends to be future-ready and agile to cater to the projects emanating from the ambitious Vision 2030 of the Kingdom of Saudi Arabia, by providing modular construction, facility management, and real estate, asset management and rental services.
Meanwhile in October, last year, RSI won three contracts in major projects. A US$59 million (SAR220 million) project was secured with The Red Sea Development Company (TRSDC). Two other contracts were secured in the US$500 billion (SAR1.9 trillion) NEOM giga project backed by the Kingdom’s Public Investment Fund (PIF).
For the latter, the first contract is worth US$20.8 million (SAR78 million) covering engineering, procurement, and construction (EPC) works of the Neom Industrial City Base Camp, and the second contract is worth US$14.1 million (SAR53 million) pertaining to Facilities Management and Operations and Maintenance services.
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