Saudi-based Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, awarded a significant number of contracts over the past month, fast-tracking work on Saudi Arabia’s flagship international tourism destination.
Saudi Ports Authority (Mawani) has signed a 30-year-long build-operate and transfer (BOT) contract to develop the northern part of Jeddah Islamic Port, making it the largest container terminal in the kingdom, with investments worth SR6.6 billion ($1.75 billion).
Spanish infrastructure major Acciona, said it has secured a $384-million contract from Saline Water Conversion Corporation (SWCC) for its fifth desalination project, Shuqaiq 1 desalination plant in Saudi Arabia, in partnership with Al Rashid Trading and Contracting Company (RTCC).
Roshn, a leading Saudi real estate developer powered by the Public Investment Fund (PIF), has awarded contracts worth SR1.6 billion ($427 million) for its flagship community project in Riyadh featuring over 30,000 homes.
National Water Company (NWC) has announced the signing of a major agreement with the Saudi-French-Philippine consortium to operate water and environmental treatment services in the northwestern cluster, which includes the regions of Madinah and Tabuk.
National Water Company (NWC) has announced plans to develop water and environmental projects worth more than SR800 million ($213 million) in the Asir region. These projects will help serve more than one million beneficiaries of the water and sanitation services in cities, governorates and centres of the region.
The total value of awarded contracts in Saudi Arabia for the third quarter fell to SR7.4 billion ($2 billion) as Covid-related strains on government and private sector entities persist, leading to a slowdown in the construction sector, said a report. The total value of awarded contracts through the first three quarters of 2020 reached SR63.
Testing is currently under way on two major lines of the 176-km-long Riyadh Metro network featuring 85 stations, with the first lines on course to open in the Saudi capital city this year, according to a report.
Leading Saudi developer Al Akaria said it has signed a partnership agreement with National Housing Company, the investment arm of the Saudi Ministry of Housing, to help boost ownership among Saudi nationals.
Al Rajhi funding for Taif ISTP Saudi-based Al Rajhi Bank said it will provide a SR258 million ($69 million) Islamic debt facility for the development of an independent sewage treatment plant (ISTP) coming up near Taif city in the Makkah province.
