Saudi Focus

Saudi Arabia’s Kingdom Tower, the over one-kilometre-tall skyscraper which will replace Dubai’s 828-m-tall Burj Khalifa as the tallest tower in the world, will be completed in 2018, said a top official. The work on the 1,008-m Kingdom Tower, which will be built north of Jeddah at an estimated cost of SR6 billion ($1.

Saudi Arabia is experiencing exponential growth in its ports and shipping sectors with a number of mega infrastructural land and sea projects worth $30 billion within the government’s current five-year plan, according to an expert.

Schneider Electric, a global specialist in energy management, has signed a memorandum of understanding (MoU) with National Grid Saudi Arabia, the entity solely responsible for the transmission of reliable and cost effective electricity in the country.

Aecom Technology Corporation has been awarded a $28-million contract to provide pre-programme management consultancy services to Saudi Arabia’s Jeddah Metro Company.

Saudi Basic Industries Corporation (Sabic) is expanding its technology centre in Jubail Industrial City in line with its strategy to continue investing in technology and innovation, and create new market opportunities and products to cope with global growth.

Saudi Arabia and Egypt are likely to tender the $1.5-billion power link project, which involves the construction of 1,250-km power cables linking Madinah with Cairo, early next year. Saudi Arabia and Egypt had signed an agreement last June to set up a common power grid with a capacity of 3,000 MW.

The Saudi Real Estate Development Fund (REDF), has approved 11,000 real estate loans totalling SR5.5 billion ($1.46 billion) to eligible citizens to build 13,202 housing units across the country, said a report.

Jacobs Engineering Group has been awarded a contract by Nesma and Partners for programme management services for the Saudi Arabian National Guard Hospital Programme. Under the three-year contract, Jacobs will support Nesma and Partners in managing a programme that involves building five hospitals on four sites in Saudi Arabia.