Indian infrastructure group Ashoka Buildcon said its joint venture with BEC Arabia Contracting, one of the leaders in Saudi construction industry, has secured the main construction works contract for a hotel project within Saudi Arabia's giga development - Diriyah, The City of Earth, coming up near Riyadh.

The contract was awarded by Diriyah Company, a wholly-owned unit of Sauidi sovereign wealth fund PIF, behind the giga Diriyah development, a $63.2-billion programme to transform the historical city near Riyadh into a global hub for history, culture and lifestyle.

This comes as part of its plans to develop 40 luxury hotels across its two main projects: the 14-sq-km Diriyah Project and the 62-sq-km Wadi Safar Project, a premium destination that blends lifestyle, culture, and entertainment.

BEC Arabia Contracting, a privately-held construction and engineering firm recognised for delivering large-scale infrastructure, civil works, electromechanical services, landscaping, and turnkey engineering solutions across the region, is playing a major role in the giant Diriyah project. 

Last year in November, it had been awarded the main contract for the Media and Innovation District - South Offices.

This project, located within the Media and Innovation District, will deliver state-of-the-art office spaces to support global media networks and creative agencies. 

Also, within the District, BEC Arabia Contracting Company had clinched the contract for the Manazel AlHadawi plots, which will further expand the district’s residential offering, supporting the growing community of professionals and families.

Ashoka Buildcon said its JV won the contract beating tough competition from several global players with their SAR717 million ($191 million) bid. It holds a 49% stake in the joint venture as a partner.

The entire project work will be completed within a 27-month period, thus marking a significant milestone in Ashoka Buildcon’s regional expansion in Saudi Arabia, it added.-TradeArabia News Service