Construction contracts in Q3 hit $6.7bn: report
The total value of contracts awarded across Saudi Arabia for the third quarter of 2022 reached SR25.2 billion ($6.
More...Neom picks GHM to manage mountain resort
Neom, the developer of Saudi Arabia’s futuristic city project along the north Red Sea coast, has signed a strategic agreement with General Hotel Management (GHM), the creator of stylish hotels and resorts worldwide, to manage The Chedi Trojena, a perennial mountain destination in Neom and the host venue of the 2029 Asian Winter Games.
More...EV Metals unit to set up $905m battery complex
EV Metals Group, a global battery materials and technology company, has announced that its regional unit, EVM Arabia, will be setting up a new battery chemicals complex on a 1.27-million-sq-m area in Yanbu, at an investment of SR3.4 billion ($905 million).
More...RSG awards $266m contracts for Amaala
Saudi-based Red Sea Global (RSG) has awarded a primary infrastructure and utility contract worth nearly SR1 billion ($266 million) to Al Ayuni Investment and Contracting Company to deliver the first phase of development at Amaala, an ultra-luxury tourism destination located along the kingdom’s north-western coast, across its Triple Bay master
More...Events Investment Fund to build 35 venues
Saudi Arabia has launched the Events Investment Fund (EIF) that aims to develop a sustainable infrastructure for the culture, tourism, entertainment and sports sectors across the kingdom.
More...Maaden awards $278m EPCM contract for phosphate complex
Saudi mining group Maaden has awarded a contract worth SR1.04 billion ($278 million) to WorleyParsons Arabia and Jesa International for the construction of Phase One of its Phosphate 3 complex project in the kingdom.
More...SPCC issues RFPs for 7,200MW power projects
Saudi Power Purchasing Company (SPPC) has issued requests for proposals (RFPs) for four combined-cycle electrical power generation projects with provision for carbon capture and sequestration (CCS) readiness.
More...Mawani lays foundation stone for $1.8bn terminals
The Saudi Ports Authority (Mawani) laid the foundation stone for upgradation and development of two container terminals at King Abdulaziz Port in Dammam under a build-operate-transfer (BOT) deal valued at over SR7 billion ($1.86 billion) signed with Saudi Global Ports (SGP).
More...Emerson starts work on hub at Spark
Emerson, a global technology, software and engineering powerhouse, has broken ground to build a state-of-the-art innovation and manufacturing hub at the King Salman Energy Park (Spark) in the Eastern Province, further expanding its local capabilities.
More...Seven breaks ground on $266m destination
Saudi Entertainment Ventures (Seven), a wholly-owned subsidiary of the kingdom’s sovereign wealth fund Public Investment Fund (PIF), has started work on a key leisure destination in Tabuk region. Designed by world-renowned architects, Gensler, the entertainment destination will come up on an area of 40,000 sq m on King Faisal Road.
More...Roshn seals $1.6bn project finance deal
Roshn, a leading Saudi real estate developer powered by Public Investment Fund (PIF), has signed a working capital facility agreement worth SR6 billion ($1.6 billion) with three leading banks in the kingdom – SABB, Bank Albilad and Al Rajhi.
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February 2023 (Volume xliv Issue 2)