Saudi Arabia’s Red Sea Development Company signs $2bln worth of contracts to date
RIYADH: The Red Sea Development Company (TRSDC), which is behind the Kingdom’s flagship international tourism project, has signed SR7.5 billion ($2 billion) worth of contracts to date, the Saudi Press Agency reported.
More than 70 percent of the contracts’ total value has been
awarded to Saudi firms, highlighting TRSDC’s commitment to strengthening the
local economy.
“This significant landmark underscores the scale of our
project and the remarkable progress made to create the destination of the
future,” said TRSDC CEO John Pagano. “TRSDC is a contributing factor to the
growth of the Saudi Arabian economy and is playing a pivotal role in its Vision
2030 plan. I am honored to be able to showcase the incredible advances our
brilliant team and partners have achieved towards making our vision a reality.”
More than 500 contracts have been awarded to companies from
24 countries, and work on the project’s transport links is underway. It
includes developing 80 kilometers of roads, highways and junctions to connect
the destination and the new international airport.
A crossing is being built between Shurayrah Island - the
destination’s main hub - to the mainland and a number of jetties are also being
built.
Saudi Amana Contracting has delivered the first volumetric
prefabricated units, which were built in a newly established facility in the
Kingdom.
These units will form part of the Coastal Village
development, a new town housing the 14,000 staff who will operate the destination
once it is completed.
Construction Village, which will be home to 10,000 workers,
is nearing completion with all of its cabins being built off-site, delivered
and assembled. The onsite landscape nursery, which measures more than a million
square meters, is operational and can deliver in excess of 15 million plants.
Last July, TRSDC signed its largest contract to date for
airside infrastructure works for the project’s international airport that is
set to open in 2022.
It is a joint venture between two leading Saudi contractors,
Nesma & Partners Contracting Co. Ltd and Almabani General Contractors, and
demonstrates TRSDC’s commitment to creating opportunities within the national
construction sector.
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