Still A Hole in the Ground
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...but this is my problem--not for the investors--to worry about.
He adds that the project is behind schedule, but it is something he will fix. He is considering a work-a-round--perhaps putting the main contractor on the site sooner than would be normal. (Normally, during the completion phase of excavation and piling, the main contractor would join in for purposes of co-ordination.)
Why the setback? Arabian-Forasol is perhaps spreading its resources thin. This is clearly not a problem which is limited to the MAG 218 project. It is part of a phenomenon that has plagued, and will continue to plague, the constructioin industry in Dubai, the UAE and the whole of the Gulf for some time. That is, resources are being stretched and contractors are taking on more than they can handle. In two words, it's a construction crunch.
Mr. Nimer's assurances aside, investors will worry. The GM, however, makes a determined plea that he is on top of the situation. He has made personnel changes in the organization to implement his plan to set things right.
From this point on, the continuing pace of progress bears close watching. The plans to get the main contractor in place are still in the offing. In the meantime, more images of "the hole in the ground."
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The Site on 23 July 2006
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Go to latest MAG 218 photos. More images at MAG 218 Gallery.
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