Saudi Arabia's public company Qiddiya Investment Company (QIC) has awarded the concession for the development of road and bridges infrastructure at upper plateau of the Qiddiya megaprojet. A Joint venture of Haif Bin Mohammed Bin Abboud Alqahtani and Partners For Trading Contracting Co; Freyssinet Saudi Arabia Co Ltd has been selected as preferred bidder for the project.
The concession contract, which involves an estimated investment of SAR 1.1 billion (USD 293.3 million), will be situated approximately 45 km southwest of Riyadh City Centre along Makkah road, including construction of site mass grading, roads and bridges, utilities relocation and provisions. The construction works are estimated to be completed in three years.
The Qiddiya megaproject envisages a new 366-km2 innovative city including Sports & Wellness; Nature & Environment; Parks & Attractions; Motion & Mobility; and Arts & Culture. Development of these areas will give rise to family-friendly theme parks; sports venues suitable for international competitions; academies for sports and the arts; concert and entertainment venues; racetracks and grandstands for motorsport enthusiasts; outdoor and adventure activities alongside nature and environment experiences; and historical, cultural and educational activities.
The total value of construction contracts awarded so far, has reached US$533.3 million (SAR2 billion), with 100% of the contracts awarded to Saudi companies.
The Red Sea Development Company (TRSDC), the developer of the world’s most ambitious regenerative tourism project, has awarded its highest-value contract to date to a consortium led by ACWA Power to design, build, operate and transfer The Red Sea Project’s utilities infrastructure.
Read moreThe Red Sea Development Company (TRSDC) has selected the Acwa Power/China Energy consortium as the preferred bidder for the first phase if the Red Sea Development project.
Read moreACWA Power, investor and operator of power generation and desalinated water plants, announced the successful signing of senior financing agreements for the US$650 million Jubail-3A IWP. The project is the fourth seawater reverse osmosis (SWRO) desalination project to be awarded in the Kingdom of Saudi Arabia over the last 3 years, as part of the largest public-private partnership (PPP) desalinated water procurement program in the world.
Read moreKorea Rail Network Authority has announced the signature of a bilateral cooperation agreement with the Korea Expressway Corporation on March 31, 2020. Under the agreement, both companies will jointly develop overseas railway-road projects and cooperate in large-scale public-private partnership (PPP) projects.
Read more
The Ministry of Health (MoH) of the Kingdom of Saudi Arabia has launched expressions of interest (“EOI”) in respect of the potential design, build, equipment procurement, operations (excluding clinical operations) and maintenance of the new AlAnsar Hospital on a Public-Private Partnership (PPP) basis.
Read more