Saudi offers 12 quarrying projects to investors

saudi,investors,projects,quarrying,ministry
Saudi Arabia

Saudi offers 12 quarrying projects to investors

Industry news, Real Estate, Financial Markets, Banking, Startups, Stock Exchange, Oil & gas, Technology, Professionals, Business news, Research

Saudi Arabia has invited investors to bid for 12 new quarrying projects involving the production of building materials, press reports said on Tuesday.

Bidding will start on Jan 30 and will end on Feb 16 and only experienced firms can participate in the process, the Arabic language daily Aliqtisadia said.

The Industry and Mineral Resources Ministry has asked investors to bid on its mining website after obtaining details of the projects, the report said.

All the sites are located in the Western Red Sea port of Jeddah, nearly 20 km from the city’s main stone cracker complex, it said.

“After receiving the relevant applications, the Ministry will then select those who can bid for the projects…it will then choose the winning bids in an auction after the end of the bidding deadline,” the Ministry said in a statement without providing project details.

(Writing by Nadim Kawach; Editing by Anoop Menon)

([email protected])

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2022

Follow the conversation
Industry news, Real Estate, Financial Markets, Banking, Startups, Stock Exchange, Oil & gas, Technology, Professionals, Business news, Research