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  • Saudi megaproject Diriyah Gate to award $4.3bln contracts in 2021

    Saudi mega heritage tourism project Diriyah Gate is set to award 16 billion Saudi riyals ($4.3 billion) worth of construction contracts in 2021, the CEO of Diriyah Gate Development Authority (DGDA), the project’s developer, said in an exclusive interview with Zawya. DGDA plans to invest 155-billion riyal ($41 billion) across its developments, which also includes transforming the city of Ad-Diriyah, the birthplace and capital of the first Saudi state, into a significant educational, cultural, recreational, and hospitality hub. Diriyah was founded in the 15th century and declared the capital of the First Saudi State in 1744.

  • Saudi contract awards to top $35bn by end of year, report says

    The value of projects planned and under execution in the GCC has remained around the $1.7 trillion mark since 2017. Saudi Arabia and the UAE accounted for more than 84 percent of the total market over the last two years. The Kingdom remains the biggest market with $1.2 trillion worth of projects in the pipeline followed by the UAE and Kuwait at $652 billion and $187 billion, respectively.

  • New $500 MM petrochemical contract awarded in Saudi Arabia

    The project scope of work entails complete engineering services, equipment and out of kingdom material supply (to be performed by Tecnimont) and in kingdom material supply, erection and construction activities up to start up and guarantee test run (to be performed by Tecnimont Arabia Limited). The project completion is expected by the second quarter of 2024.

  • Opinion: Against Iran, the US needs to reactivate its Cold War strategy

    Since the so-called "Islamic revolution" of 1979, the problem of Iran has bedevilled every US president. Joe Biden is no exception. The challenge intensified following the 2003 US invasion of Iraq. But at no point in the past two decades has the US developed a viable long-term strategy for dealing with Iran.

  • The United States and Iran warily circle each other over reactivating nuclear deal

    In public, both sides continue to wait for the other to prove its good faith with “you, first” rhetoric. Tehran has strongly hinted at a gesture that might break the deadlock — access to its funds frozen in South Korean banks because of U.S. sanctions. The money, said to total $7 billion from earlier oil purchases — would pass through Switzerland and be restricted to purchases of humanitarian goods such as medical devices, Iranian officials have said.

  • MAWANI to award 12 BOT contracts in 2021

    He said that these proposed contracts are aimed at operating the remaining ports and services during the year 2021 with the involvement of the private sector. Alkhalb said that the experiment of awarding the contracts on BOT basis was a successful one, as its productivity exceeded the expected rates by about 10 percent during the six-month period following its operation.

  • Red Sea Company awards two contracts to Saudi companies

    The Red Sea Development Company (TRSDC), the developer of one of the most ambitious regenerative tourism projects in the world, has awarded contracts to Saudi firms Red Sea International and Facilities Management Company (FMCO) to provide all maintenance, security, catering, administrative and laundry services at The Red Sea Project’s Construction Village on the west coast of Saudi Arabia.

  • Acting defense secretary assures end of ‘generational’ Mideast wars in announcement of partial drawdown

    Those conditions are a bit of a moving target. Pentagon officials have been saying for months that they include a reduction of violence against U.S. troops and a demonstration on the part of the Taliban that they are committed to preventing Afghanistan from becoming an al-Qaida safe haven again, in turn assuring that no further terrorist attacks against the U.S. will come out of that country.

  • SNC-Lavalin’s Atkins business awarded lead design contract for Six Flags Qiddiya theme park in Saudi Arabia

    Six Flags Qiddiya is scheduled for opening during the first phase of Qiddiya – the Kingdom’s Capital of Entertainment, Sports and the Arts. The park will stretch across 32 hectares (79 acres) and feature 28 uniquely themed rides and attractions across six lands: The City of Thrills, Discovery Springs, Steam Town, Twilight Gardens, Valley of Fortune and Grand Exposition. The theme park will provide both recreational and professional opportunities to the Saudi population and boast a number of record-breaking attractions including The Falcon’s Flight, the longest, tallest and fastest roller coaster in the world.

  • Saudi’s AMAALA awards Tamimi Global design-build contract

    The contract also includes the second and third stages of civil and infrastructure works for the village. Each stage will address the needs of 5,184 future residents at AMAALA, and upon completion will cater to a total occupancy of 15,552 residents.