Leading developer Al Akaria Saudi Real Estate Company (Sreco) has announced plans for a 7-million-sq-m integrated world-class city ‘Al Widyan’ in the capital. Strategically located in Riyadh’s northern growth corridor, Al Widyan is around 15 minutes from the airport and 20 minutes from downtown Riyadh.
Saudi Arabia has announced plans to spend around $490 million towards development of major water projects in the Tabuk region of the kingdom, said a report.
Saudi Electricity Company (SEC) has started up seven power transformer stations in the northern area with a total value of SR2.1 billion ($560 million) and capacity of 3,613 MVA to connect the area with the main power grid. The move aims to support the industrialisation and mining projects in the city of Wa’ad Al Shamaal.
The Saudi Housing Ministry has signed two agreements with real estate development companies to build some 10,000 residential units in the city of Jeddah for beneficiaries of the Sakani (My Home) programme, said a report.
Rabiah & Nassar Engineering and Construction (Rabiah & Nassar E&C) is looking to capitalise on the growing demand in Saudi Arabia’s construction sector, building on the extensive experience of its parent firm Rabiah & Nassar Group (Ranco), which has been active in the market for close to eight decades.
Saudi Aramco, Air Products, and Acwa Power have announced the signing of a term sheet to form a gasification/power joint venture (JV) located at Jazan Economic City (JEC). The JV will purchase the gasification assets, power block and the associated utilities from Saudi Aramco for approximately $8 billion.
Jacobs Engineering Group said it has received a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company (Satorp) for its subsidiary in the kingdom – Jacobs Zamel and Turbag Consulting Engineers (Jacobs Zate) – to provide general engineering services at Satorp’s facilities in the kingdom.
Khalifa A Algosaibi Investments of Saudi Arabia has completed a major management shuffle and appointed a new CEO, as well as drawn up a new growth strategy to stay on top of its game.
Saudi-based Zamil Steel Construction Company (ZSCC) said it has secured a supply contract worth SR13.9 million ($3.7 million) from Saudi Constructioneers for the Riyadh Bus Rapid Transit System (BRT) project in the Central Province.
