Italian firm Salini Impregilo has signed a construction contract worth US$1.3bn with Saudi Arabia
The project involves the construction of 6,000 villas sprawled across seven million sq m in the east of Riyadh. The construction is expected to finish in five years.
The project entails building of a 160km long road with secondary routes and collateral services, a sewage treatment plant and water sources above and below ground.The deal leverages Salini Impregilo's role in the building and transport sectors of Saudi Arabia. Salini Impregilo won a US$300mn contract in last April to carry out the Al Faisaliah District Redevelopment project for Al Khozama Management Company. The company already has stakes in the construction of Orange Line of Riyadh Metro. Saudi Arabia is investing US$88bn in infrastructure over the next five years.
The Italian firm's subset company, Fisia Italimpianti, has signed a US$255mn contract with ACWA Power to build a desalination plant in Oman. The group is also building Meydan One Mall, a shopping complex at the heart of a massive urban development plan between Meydan and Al Khail Road in Dubai, at an estimated cost of US$435mn.
Salini Impregilo has also signed a US$200mn deal in Abu Dhabi to design and build a five kilometre section of a transit way which connect the capital district with the central business district. Salini Impregilo, along with its US subsidiary Lane Construction, is also assisting in the expansion of Al Maktoum International Airport in Dubai.
