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In the news this week
In Oman, Al Sarooj Construction Company was awarded a contract worth US$392 Mn for the design and implementation of Diba-Lima-Khasab road and also the road link to Musandam – Lima district. The 70km long road project is set for completion in 2027.
Also in Oman, The Ministry of Housing and Urban Planning, Oman signed an agreement with the Strabag Oman to implement preliminary tasks for the first phase of Sultan Haitham City. The US$18 Mn contract involves laying down the basic infrastructure of roads, rainwater passages along the valley and developing the 1.6 million sqm central park.
Australia’s Lycopodium was awarded an Engineering, Procurement and Construction Management (EPCM) services contract for the Yanqul Copper Gold Project in Oman, being developed by Mazoon Mining LLC (MMC).
On a similar development, Saudi Arabian Mining Company (Ma’aden) announced the discovery of significant gold resource potential extending along a 100km strike from the existing Mansourah Massarah gold mine.
In other news from Saudi Arabia, NEOM launched its latest lifestyle development project ‘Norlana’, which will comprise 711 residential properties and accommodate about 3,000 residents. The development will also include a 120-berth marina, and with space for an 18-hole golf course and an equestrian and polo centre.
Neom also appointed Spanish architect Ricardo Bofill Taller de Arquitectura as the consultant for its recently launched Utamo, Neom’s immersive destination for art and entertainment.
Utamo will comprise a futuristic theatre, multipurpose performance space, VIP lounges, signature restaurants, a garden promenade, a 64-meter-high entrance among other facilities to make it one of the world’s most exclusive event spaces.
Sahara International Petrochemical Company (Sipchem) and National Industrialization Company (Tasnee) awarded an engineering, procurement, and construction (EPC) contract worth US$500 Mn to Korean group SGC-eTEC for expansion of its ethylene cracker plant in the kingdom. The expansion is expected to be completed in the first half of 2026.
King Salman Energy Park (SPARK) partnered with Affordable Housing Company, a unit of Saudi developer Bin Saedan, for the launch of two projects, one residential and another commercial, in the Kingdom.
The US$50 Mn residential apartment complex features 459 fully furnished apartments with a combination of one, two and three-bedroom layouts, the multipurpose commercial offices development will include over 15,000 sq m of leasable area will be built with an investment of US$15 Mn.
