RIYADH: Jeddah Central Development Company — master developer of the Jeddah Central Project and a subsidiary of the Kingdom's sovereign wealth fund — has signed a memorandum of understanding with ecosystem developer Cruise Saudi on the Jeddah central project.
The deal entails the partnership of both companies on designing the cruise terminal and a marina, Trade Arabia reported.
In addition to the touristic value that the project will create, the construction of these developments will strengthen Saudi Arabia’s title as a maritime hub between its competitors.
“The outputs of the memorandum will also strengthen Jeddah’s position as a multi-faceted maritime hub alongside other regional competitors,” a statement from JCDC said.
Bids submitted on Algeria’s $400m chemical plant
Sonatrach Total Entreprise de Polymeres — a joint venture formed between Algerian-based Sonatrach and French-based TotalEnergies—has received four companies’ bids on the engineering, procurement and construction work of their $400 million project.
The project plan is to create a propane dehydrogenation and polypropylene facility in Algeria, according to MEED.
BRT gaining contract developer’s interest
Some 43 companies have shown interest in the bus rapid transit project — following Medina development authority’s request last June for an evidence of insurability.
The Medina BRT will consist of three corridors of 64.6 kilometers in total length, with a capacity of 1,800 passengers per hour, reported MEED.
Emerson completes Saudi control Valve
Emerson — a US-based technology and software company — has built the very first fully Saudi-manufactured control valve, which they deemed as a milestone in the Kingdom's manufacturing sector.
The company has been strengthening their operations in Saudi Arabia since 2002, to meet stakeholders and customers’ high demand, Trade Arabia reported.
“Over the years, we have positively contributed to the development of the country through strong business growth supported by local talent,” stated Mal McLernon Emerson’s vice president and general manager for flow controls in the Middle East.
Emerson displayed their outstanding achievement in a recent event at Emerson’s Dhahran Techno Valley Collaboration Center, where their work was witnessed by key Saudi customers and stakeholders.