ISG JUBAIL’S NEW SCHOOL PROJECT IS PUT ON HOLD

Picture+taken+by+Jon+Netzler%2C+May+2%2C+2016%2C+at+the+construction+site+of+the+new+ISG+Jubail+school+located+in+Jalmudah.
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ISG JUBAIL’S NEW SCHOOL PROJECT IS PUT ON HOLD

Picture taken by Jon Netzler, May 2, 2016, at the construction site of the new ISG Jubail school located in Jalmudah.

Picture taken by Jon Netzler, May 2, 2016, at the construction site of the new ISG Jubail school located in Jalmudah.

Picture taken by Jon Netzler, May 2, 2016, at the construction site of the new ISG Jubail school located in Jalmudah.

Picture taken by Jon Netzler, May 2, 2016, at the construction site of the new ISG Jubail school located in Jalmudah.

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ISG Jubail’s new school project has been “put on hold,” according to Russell Rein, the ISG Jubail School Director of Operations. When asked what has happened to the new school plans, Principal Dan Mock said problems have been faced with the contracting company, thus resulting in the stagnancy on site.

“The construction crew has been removed from the site due to some difficulties with them maintaining the terms of the contract. We searched for another contractor without much success,” Dan Mock said.

According to Mock, the new school project has been put on hold “until further notice” due to not only the issues with the contracting company but financial issues as well.

Mock said, “When we made plans to develop the school, we had enough money to hire a contractor and put down 25 percent of the overall cost so they [could] begin construction. We were able to acquire a letter of intent from the bank to help us with the loan to cover the rest of the money.”

Rein then added that due to the Saudi Arabian governmental and country-related issues, “banks are not giving out loans for projects such as these; they are not lending.”

So what will the school do?

“First option is we are going to seek other opportunities or resolutions to this situation, that the school is on hold, second option is to invest in the facilities of the current school and make it better overall,” Rein said.

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