Major concession contract awarded at Qiddiya Gigaproject in Saudi Arabia
Saudi Arabia's public company Qiddiya Investment Company (QIC) has awarded the concession for the development of road and bridges infrastructure at upper plateau of the Qiddiya megaprojet. A Joint venture of Haif Bin Mohammed Bin Abboud Alqahtani and Partners For Trading Contracting Co; Freyssinet Saudi Arabia Co Ltd has been selected as preferred bidder for the project.
The concession contract, which involves an estimated investment of SAR 1.1 billion (USD 293.3 million), will be situated approximately 45 km southwest of Riyadh City Centre along Makkah road, including construction of site mass grading, roads and bridges, utilities relocation and provisions. The construction works are estimated to be completed in three years.
The Qiddiya megaproject envisages a new 366-km2 innovative city including Sports & Wellness; Nature & Environment; Parks & Attractions; Motion & Mobility; and Arts & Culture. Development of these areas will give rise to family-friendly theme parks; sports venues suitable for international competitions; academies for sports and the arts; concert and entertainment venues; racetracks and grandstands for motorsport enthusiasts; outdoor and adventure activities alongside nature and environment experiences; and historical, cultural and educational activities.
The total value of construction contracts awarded so far, has reached US$533.3 million (SAR2 billion), with 100% of the contracts awarded to Saudi companies.