Eastern Province-headquartered Qanbar Ready Mix, which has 40 years’ experience in the supply of quality readymix concrete, has taken a pioneering role in Saudi Arabia and the Middle East by conducting the first trial mix of concrete injected with carbon dioxide (CO2) using innovative technology from Canada’s CarbonCure.
Saudi Water Partnerships Company (SWPC) has issued request for qualifications (RFQs) for two independent strategic water reservoir projects – Al Ahsa and Eastern Province – in the kingdom with a total ultimate treatment capacity of 4.9 million cu m/day.
Diriyah Development Company (DevCo), a development subsidiary of Saudi-based Diriyah Gate Development Authority (DGDA), has awarded its largest contract to date worth SR3.99 billion ($1.06 billion) to Salini Saudi Arabia for the construction of its ‘super basement’ car park.
Saudi-based Al Yamamah Steel Industries Company said it has won two orders worth SR292 million ($78 million) from Hyundai Engineering and Construction Company for the supply of steel towers for the construction of electricity transmission lines for a key project on the Egypt border.
Saudi Water Partnerships Company (SWPC) has issued requests for qualifications (RFQs) for the development of two independent sewage treatment plants in the kingdom with a total capacity of 150,000 cu m per day.
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has signed an MoU with South Korean industrial majors Posco and Samsung C&T to develop a green hydrogen production facility in the kingdom, mainly for export purposes.
Saudi Arabia is now considered the top-performing market as the Middle East construction output recovers. The Saudi construction market, which was valued at around $37 billion in 2020, is expected to register a CAGR of 5.2 per cent over the period 2021-2026. “Construction companies are facing a new world.
Saudi Arabia has set the minimum project value of public assets meant for privatisation at SR50 million ($13.3 million), reported Saudi Gazette, citing the executive regulations of the Privatization Law. As per these regulations, the minimum value of public-private partnership projects (PPP) is SR200 million, it stated.
Saudi Arabia has launched ‘Boutique Group’, a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in the kingdom into ultra-luxury boutique hotels.
The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, has achieved financial close on its SR14.120 billion ($3.76 billion) term loan facility and revolving credit facility with four leading Saudi banks.
The Saudi Ministry of Health, in cooperation with the National Center for Privatization & Public-Private Partnership (NCP), has sought expressions of interest (EOI) for the development of two key medical cities in the kingdom.
