Saudi giga project says construction contracts top SR2bn

Saudi giga project says construction contracts top SR2bn

A major contract worth SR1.1 billion ($293 million) has been awarded to build roads and bridges connecting the Qiddiya giga project in Saudi Arabia as construction progresses despite the impact of coronavirus.

The total value of all construction contracts awarded so far by Qiddiya Investment Company (QIC) since construction began some 12 months ago, has reached SR2 billion, with these contracts awarded 100 percent to Saudi companies.

The most recent contract award, a three-year agreement to construct major roads and bridges on the upper plateau of the site, was won by Haif & Freyssinet – a joint venture contract between the two local firms.

Kareem Shamma, chief development officer, QIC, said: “Reaching the SR2 billion mark is a very important milestone for us, but what's more important is that these contracts went through a tough and competitive bid process, and were won by Saudi firms, and this, wholeheartedly, supports our intention to contribute to the growth of the domestic economy.

"It is also indicative of our continued commitment to creating the kingdom's capital of Entertainment, Sports and the Arts. Businesses across the globe have been affected adversely due to the global pandemic but we have been steadfast in our vision, and fortunate to have