The total value of contracts awarded across Saudi Arabia for the third quarter of 2022 reached SR25.2 billion ($6.
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.
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).
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
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.
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.
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.
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).
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.
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.
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.
