Italian contractor secures SAR 4.87 bln for Saudi housing project deal

Italian contractor Salini Impregilo has secured a $1.3 billion (SAR 4.87 billion) construction contract from the Saudi Arabia National Guard, it said in a statement today.

The project involves housing and urban planning on a large scale with the construction of 6,000 villas in an area of 7 million square meters (sqm) to the east of Riyadh.

It also involves more than 160 kilometers 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, the statement added.

“This contract strengthens Salini Impregilo's role in the building and transport sectors of Saudi Arabia, which is seen investing $88 billion (SAR 330 billion) in infrastructure in the next five years,” the contractor stated.