Salini Impregilo wins $1.3bn Saudi housing project deal
RIYADH, November 3, 2019
Salini Impregilo, an Italian specialist in the construction and civil engineering business, has won a $1.3-billion construction contract from the Saudi Arabia National Guard.
The project involves housing and urban planning on a large scale with the construction of 6,000 villas in an area of 7 million sq m to the east of Riyadh and more than 160 km of main roads and secondary routes and related services, as well as a sewage treatment plant and several water tanks above and below ground.
The contract is expected to be completed in five years, said a statement from Salini Impregilo.
This latest contract strengthens Salini Impregilo's role in the building and transport sectors of Saudi Arabia, which is seen investing $88 billion in infrastructure in the next five years, it stated.
The Middle East, particularly Saudi Arabia, Oman and the UAE, is rich in opportunity for Salini Impregilo, one of the foreign infrastructure groups with the biggest portfolio of contracts by value for large, complex projects in the region.
At the global level, the Italian builder has been a leader for the past five years in the water sector and one of the leaders in the transport sector, it added.
Salini Impregilo, which is present in more than 50 countries, is taking part in the construction of Line 3, or Orange Line, of the Riyadh Metro. At 41.58 km, the line will be the longest in the system.
Last April, it had won a $300-million contract to build the Al Faisaliah District Redevelopment for the Al Khozama Management Company, which specialises in the development and management of commercial, luxury and hotel real estate.
With Fisia Italimpianti, which is controlled by the Group, Salini Impregilo won a $255-million contract with Acwa Power to build a desalination plant in the Shuaiba region in Oman, said the statement.
In the UAE, the group is building the Meydan One Mall for $435 million, a shopping complex at the heart of a massive urban development plan between Meydan and Al Khail Road in Dubai.
It has also a $200-million contract in Abu Dhabi to design and build a 5-km section of a transit way that will cross two islands to connect the Capital District with the Central Business District in the capital under its 2030 development plan to foster economic growth, said the statement from the Italian builder.
With its US subsidiary, Lane Construction, Salini Impregilo is helping with the expansion of the Al Maktoum international airport in Dubai that will eventually serve 220 million passengers per year, making it the biggest by 2050, it added.-TradeArabia News Service
