Saudi deals: Italian construction giant Webuild seals contracts worth $2bln

Saudi deals: Italian construction giant Webuild seals contracts worth $2bln

Italian construction and engineering giant Webuild bagged three contracts in Saudi Arabia with a combined value of €1.8 billion ($2 billion) in May.

The contracts are for a high-speed railway and a water treatment plant, Webuild said in separate press statements.

On Thursday, 11 May, Webuild announced that with its Saudi joint-venture partner Shibh Al Jazira Contracting Company (SAJCO), it signed a €1.4 billion ($1.5 billion) contract to design and build 57 kilometres of a high-speed railway in giga-project NEOM in Northwest Saudi Arabia.

The contract covers the design and build for the majority part of the Connector, the railway connecting Oxagon, NEOM’s centre for advanced and clean industries, with The Line, its futuristic city.

The JV agreement is split 70:30 between Webuild, through its local branch and unit Salini Saudi Arabia, and SAJCO. The partnership includes civil works for the two high-speed and two freight railway tracks, with Webuild leading the execution of work, the statement said.

The contract also covers viaducts, road bridges, and road and rail underpasses to facilitate train speeds up to 230 km/hour.

Water treatment plant

Two contracts worth €408 million ($439 million) for constructing and operating a water treatment plant for Aramco’s ZULUF onshore oil facilities were bagged by subsidiary Fisia