Time: September 18, 2018
Saudi Real Estate for Infrastructure Company (Binyah) has won a SR1.1-billion ($293 million) infrastructure contract from the kingdom’s leading developer Al Akaria Saudi Real Estate (Sreco) for its giant Al Widyan project near capital Riyadh.
As per the dea,l Binyah, a company 60 per cent owned by Sreco, will build roads, landscape and provide water, electricity, communications and irrigation networks, the Saudi company said in a statement.
The scope of work includes development of 80 km of roads, 275 km of power supply cabling, 250 km of telecoms cabling, 100 km of potable water pipework and a 200-km irrigation network, it stated.
Sreco chairman Abdulrahman Almofadhi said: “The project under development is a massive undertaking. We are confident that Binyah will deliver the high-quality roads, water networks, electricity networks, sewage networks, power stations and other elements of the project to make it a success.”
“Infrastructure delivery under Binyah’s contract is expected to generate 2,000 jobs, a large proportion of them for Saudis,” he added.