SR 290 mIllion in contracts to boost Jubail infrastructure projects

Updated 10 January 2013
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SR 290 mIllion in contracts to boost Jubail infrastructure projects

RIYADH: The Royal Commission for Jubail and Yanbu (RCJY) has signed two contracts worth SR 290 million for the development of infrastructure projects in Jubail Industrial City.
RCJY Chairman Prince Saud bin Abdullah bin Thunayyan and representatives of China Geo-Engineering Corporation (CGC) signed the first contract.
According to the contract, CGC will prepare land located in the southern part of Jubail 2 project to be developed into a logistics area to serve companies involved in packing, storing and loading of goods to and from Jubail 1 and 2, according to local media.
The scope of work includes construction of road networks, rain, flood and sewage disposal, drinking water and power supplies, street lighting, and traffic signals. Duration of the contract is 38 months.
The second contract was signed with China Communications Construction Company (CCCC) which will develop the eastern part of the residential area of Jubail city.
The scope of work includes demolition, dredging, filling and reclamation works in addition to road works including pavements, traffic signs, pedestrian crosswalks and car parking. It also includes construction of sewage, rain flood disposal networks, drinking water supplies, fire fighting systems, electric lines, street lighting, telecommunication networks, internet protocol-based TV systems. Duration of the contract is 26 months.


Saudi Arabia’s King Salman will patronize the launch of the Qiddiya Project

Updated 24 April 2018
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Saudi Arabia’s King Salman will patronize the launch of the Qiddiya Project

  • Qiddiya Project is the new entertainment, sports and cultural destination in the Kingdom
  • The first phase will be completed by 2022

RIYADH: Saudi King Salman will launch the construction of an “entertainment city” near Riyadh Wednesday, authorities said, part of a series of multi-billion dollar projects as the Kingdom seeks to diversity its oil-reliant economy.
The 334-square kilometer project in Qiddiya, southwest of Riyadh, would rival Walt Disney and include high-end theme parks, motor sport facilities and a safari park, officials say.
The facility highlights a “relentless effort to develop giga-projects that will help achieve many direct and indirect economic returns,” project official Fahd bin Abdullah Tounsi was quoted as saying in a government statement on Monday.
Qiddiya chief executive Michael Reininger said he expects the project will draw foreign investors in entertainment and other sectors, but did not specify the total cost of construction.
Such projects are the brainchild of Crown Prince Mohammed bin Salman, a self-styled liberal change agent who is the chief architect of the sweeping “Vision 2030” reform program.
Saudi Arabia has dazzled investors with several plans for hi-tech “giga projects,” funded in part by its sovereign wealth fund, but some skeptics question their viability in an era of cheap oil.
The Kingdom has unveiled blueprints to build NEOM, a mega project billed as a regional Silicon Valley, in addition to the Red Sea project, a reef-fringed resort destination — both worth hundreds of billions of dollars.
Analysts say the projects could create funding pressures at a time when the government faces a yawning budget deficit and growth in the Kingdom’s non-oil economy is only slowly gathering pace.
The reform stems partly from an economic motive to boost domestic spending on entertainment as the Kingdom has been reeling from an oil slump since 2014.
Saudis currently splurge billions of dollars annually to see films and visit amusement parks in neighboring tourist hubs like Dubai and Bahrain.
In February, Saudi Arabia’s General Entertainment Authority (GEA) announced it will stage more than 5,000 festivals and concerts in 2018, double the number of last year, and pump $64 billion in the sector in the coming decade.