Saudi SWF seeks to train local contractors for projects

Saudi SWF seeks to train local contractors for projects

Saudi Arabia’s sovereign wealth fund is planning to organize training workshops for national contracting companies to rehabilitate them for possible new projects, a Saudi newspaper reported on Monday.

The Public Investment Fund (PIF), one of the world’s largest SWFs, will sponsor the workshops through the Gulf Kingdom in cooperation with the Saudi Contractors’ Authority (SCA), an umbrella for thousands of local construction firms.

The London-based daily Asharqalawsat quoted SCA sources as saying the workshops would be organized to ensure contractors are eligible to undertake PIF projects in the world’s largest oil exporter.

“These workshops are intended to explain projects undertaken by the PIF and to register with SCA for participating in new projects,” the report said.

SCA is urging all contractors in the Kingdom to register for those workshops so they will be allowed to bid for projects offered by PIF, which currently controls more than 84 companies in the country, the report added.

(Writing by Nadim Kawach; Editing by Anoop Menon)

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