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Diriyah Gate development awards a US$142 Mn contract

Staff Writer | May 20 2024

Ventures Onsite Construction News Update

In the news this week

Masdar signs a wind farm contract with Hassan Allam Utilities

Abu Dhabi Future Energy Company Masdar, Infinity Power, and Hassan Allam Utilities signed a Land Access Agreement with the Egyptian Government for the consortium’s 10GW capacity onshore wind farm in West Suhag, Egypt. The project is set to be one of the largest in the world, with a project value exceeding US$10 Bn.

KEZAD Group partners with Golden Spike and Wheat 

Khalifa Economic Zones Abu Dhabi, KEZAD Group, Golden Spike, and Wheat signed a 50-year land lease agreement to establish a bakery and sweets manufacturing facility in KEZAD. The 26,000 sqm facility in ICAD 3 will have a large production capacity to meet the UAE market’s requirements.

Shapoorji Pallonji partners with Roshn for Sedra

In Saudi Arabia, Shapoorji Pallonji won a design-and-build contract from Roshn for phase 2 of its flagship project, Sedra. The scope of work includes developing 429 single-family residential units.

KSA’s National Housing Company awards a contract to CMEC

Saudi Arabia’s National Housing Company (NHC) has awarded China Machinery Engineering Corporation (CMEC) a contract to construct 20,000 residential units. The project entails building different facilities, including medical care establishments, schools, and retail stores.

GS Engineering & Construction Company partners with OPWP

In Oman, South Korean GS Engineering & Construction Company announced that it had secured a US$1.7 Bn contract from Oman Power & Water Procurement Company (OPWP) to build a desalination facility in Muscat.

Under this contract, GS Inima will have the rights to operate the desalination facility for 20 years after completion. The facility will have a capacity of 300,000 tonnes per day of drinking water.

Diriyah Gate development awards a contract to Binyah 

Saudi Real Estate Infrastructure Company (Binyah) won a US$142 Mn contract for a car park within the Diriyah Gate development in Riyadh. Binyah will implement excavation works related to its Car Park A and B projects.

Qatar Free Zones Authority partners with Evonik

Qatar Free Zones Authority (QFZ) and Evonik, a leading specialty chemicals company from Germany, signed an MoU on the sidelines of QFZ’s participation in Qatar Economic Forum 2024. Potential future investments will take place in Umm Alhoul free zone in Qatar.

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