Saudi Arabia's Qiddiya awards $610 million contract to Al
Akaria subsidiary
Al Akaria, a Saudi Real Estate Company, has announced that
its subsidiary, Saudi Arabia Real Estate Infrastructure & Construction
Company (Binyah), in partnership with InfraRoad Trading & Contracting, has
secured infrastructure package contracts with Qiddiya Investment Company worth
2.29 billion Saudi riyals ($610.49 million).
These contracts encompass the development of crucial
infrastructure elements and bridges for the Qiddiya Resort Core. This scope
includes primary and secondary road systems, utility networks, utility
culverts, pedestrian bridges, and storm drainage channels. The announcement was
made through a statement released on the Saudi stock exchange.
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The Resort Core is a dedicated zone for pure entertainment
and leisure, serving as the future home to Qiddiya's theme parks, including the
renowned Six Flags Qiddiya, as indicated on the Qiddiya website.
Furthermore, the agreement encompasses the entire process,
from design to construction, testing, and commissioning, for various essential
facilities, including a sewage treatment plant, irrigation water storage tanks,
a pump station, a potable water storage tank, and a solid waste transfer hub.
The contract duration spans 22 months.
Binyah, which is 60% owned by Al Akaria, is engaged in
infrastructure development, laying oil and gas pipelines, and constructing
stations and main lines for water distribution.
Source: https://www.constructionweekonline.com/
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