Saudi Arabia’s Red Sea project awarded contracts worth 14.5bn riyals last year

Saudi Arabia’s Red Sea project awarded contracts worth 14.5bn riyals last year

The Red Sea Development Company (TRSDC) awarded contracts worth 14.5 billion Saudi riyals ($3.86bn) in 2020 as the company pushes ahead with the construction of a mega tourism project on the country's west coast.

In total, the company awarded 500 contracts, with local companies clinching 70 per cent of the deals, TRSDC said in its inaugural sustainability report on Monday.