PIF-owned Diriyah unveils SAR 758.5m contract to Chinese firm for global project - Mubasher Info
Riyadh – Mubasher: Diriyah Company, a unit of the Saudi Public Investment Fund (PIF) and the dynamic mixed-use developer behind the transformation of Diriyah, The City of Earth, has awarded a SAR 758.50 million ($202.20 million) contract to China Harbour Engineering Company, a subsidiary of China Communications Construction Company, to undertake bulk excavation works in Diriyah’s second phase.
The excavation works will cover most of the area of the second phase of the Diriyah project, which spans approximately 6.30 square kilometres, out of the total 14 square-kilometre development area, according to a press release.
The excavation works will see more than 600 heavy machines deployed on-site to carry out the work, shaping the site according to design specifications and providing a foundation for the development of planned world-class assets in Diriyah. These include the Royal Diriyah Opera House and the 20,000 seat Diriyah Arena.
Diriyah Company will embrace circular economy principles, as materials from the excavation site will be crushed and repurposed for uses such as road bases, landscaping, and backfill, according to international sustainability guidelines.
By embedding international best practices, innovative technologies, and sustainability certification targets in all our projects, Diriyah Company aims to enhance environmental performance and sustainability credentials at the community and building levels.
Group CEO of Diriyah Company, Jerry Inzerillo, said: “Progressing ahead of schedule, this excavation will enable smooth and efficient development of major cultural assets that will attract millions of visitors annually to Diriyah and inspire the world. As we move forward in creating a premier live-work-play destination, we encourage partners to join us on this journey."
CEO of China Harbour Engineering Company Ltd (Middle East), Yang Zhiyuan, commented: “We are honored to collaborate with Diriyah Company on the execution of the Bulk Excavation Works project. We are confident in the success of this project, integrating the advantages of global resources, technical strength, equipment resources and an experienced management team. We will focus on environmental protection awareness and sustainable development concepts during implementation, ensuring the timely delivery of the project, contributing to the preservation of Diriyah’s heritage, cultural exchange and the development goals of Saudi Vision 2030.”
The large-scale contract is the latest awarded this year by Diriyah Company, following a $1.55 billion joint venture for Qurain Cultural District, awarded last month in November; a $2.08 billion contract for the Northern District, awarded in July; and another contract worth $2.13 billion to build four luxury hotels and Royal Diriyah Equestrian & Polo Club in Wadi Safar, also in July.
The Diriyah Company is responsible for the Diriyah and the Wadi Safar masterplans, encompassing more than 40 hotels, arts districts, museums and world-class sporting venues within a vibrant new global destination on the outskirts of Riyadh, the capital city of the Kingdom of Saudi Arabia.
Source: Mubasher Source: {{details.article.source}}