King Abdullah Economic City (KAEC) has awarded new contracts worth over SAR1.2 billion (USD320 million) for the construction and development of several sectors in the city during the year 2018.
KAEC acting Chief Executive Officer Ahmed Bin Ibrahim Linjawy said that 20 percent of the value of the contracts was for the development of the industrial valley, residential areas and facilities. About 80 percent of the value of the contract was for the development of a range of projects, services, and products in a number of areas, notably the tourism sector, entertainment, and sports. He said the development plans for the city are continuing so as to develop strategic sectors, like the logistics and industrial sectors.
Linjawy noted that the industrial valley has attracted more than 110 national and international companies so far.
The King Abdullah Port can handle 3.4 million containers annually. Investments are continuing as more than 10,000 housing units and plots of land distributed among six residential districts are being developed.
KAEC is giving priority to the empowerment of Saudi youth by launching quality initiatives and projects in cooperation with a number of partners. Foremost among these is the Prince Khaled Faisal Project which aims to train some 10,000 male and female pupils by the end of 2020. Till now 3,800 students have been trained.
