Saudi Arabian Oil Co. (Saudi Aramco), the world’s largest oil exporter, will proceed with only two of the 11 stadiums it was originally planning to build across the kingdom, MEED has reported, citing sources close to the $5 billion project.
Stadiums were set to be built in Madinah, Al-Qassim, the Eastern Province, Asir, Tabuk, Hail, the Northern Borders, Jizan, Najran, Baha, and Al-Jouf. However, Dammam and Madinah were said to be the only cities that are likely to see projects on the ground.
Plans for the remaining nine will likely be scrapped or downsized.
The change was mainly attributed to lower oil prices and a recent reshuffle in the Saudi cabinet, both of which directly impacted the company.
According to media reports published last month, the government was considering converting the proposed stadiums into sports villages.
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