Saudi Focus

The UK-based Zaha Hadid Architects (ZHA) has won a design competition for the Urban Heritage Administration Centre in Diriyah, Saudi Arabia.

Just In Time Express (JIT-Ex), a complete logistic solution provider which has been playing a big role in the international market over the past three years, has its eyes set on becoming the best in the industry.

Pecsa, a joint venture between South Korea’s Posco Engineering and Construction Company and Saudi Public Investment Fund (PIF), said it has been awarded a $900-million contract to build five hotel towers in Madinah.

Saudi Aramco is likely to start work on its giant ship repair and shipbuilding complex at a cost of SR20 billion ($5.32 billion) in 2018, according to a Reuters report.

Work on the $22.5-billion King Abdul Aziz Project for Riyadh Public Transport (KAPRPT) is progressing well with 45 per cent of the metro project already completed, said a report.

Hempel Paints, a global supplier of marine, protective and decorative coatings, plans to move its entire production in Saudi Arabia to its new plant in Jeddah’s second industrial city as part of a strategy aimed at meeting the needs of its Saudi customers. The move coincides with the centennial anniversary of the Hempel Group.

Saudi Arabia last month made payments totalling SR40 billion ($10.6 billion) it owed to private companies, after Deputy Crown Prince Mohammed bin Salman, chairman of the Council for Economic and Development Affairs, announced a settlement of dues to the contractors. The government is likely to disburse another SR100 billion ($26.

Six Flags Entertainment Corporation plans to open three theme parks in Saudi Arabia at an investment of over $1.5 billion as part of its regional expansion plans, said a report. The first of the projects is likely to open in Riyadh over the next four to five years, reported Reuters citing the firm’s executive chairman Jim Reid-Anderson.

Saudi oil giant Aramco has shortlisted four companies to help it manage the non-oil construction projects.

Construction costs drop King Abdullah Economic City (KAEC) is paying as much as 15 per cent less towards construction costs as cuts in state spending reduce pressure on supplies of building materials and labour in the kingdom.