UPDATE one-Saudi Arabia’s Crimson Sea mega venture awards contracts for worldwide airport – Reuters

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RIYADH, July thirteen (Reuters) – Saudi Arabia’s Red Sea Development Organization said on Monday it had awarded infrastructure contracts for an international airport that is due to open in 2022.

The corporation, which is producing a big Purple Sea tourism task, stated the contracts have been awarded to Nesma & Associates Contracting Co. Ltd and Almabani Normal Contractors.

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Saudi Arabia designs to build resorts on fifty islands off the Red Sea coast, supplying a nature reserve, coral reef diving and heritage web-sites.

Red Sea Improvement Co, backed by Saudi Arabia’s sovereign fund, the General public Expenditure Fund (PIF), ideas to build the initially period by 2022. It aims to draw in 300,000 travellers a calendar year in the to start with phase and 800,000 to one million the moment the improvement is total.

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Purple Sea is a single of three big tasks backed by PIF, alongside with the $five hundred billion NEOM financial zone and the Qiddiya enjoyment task.

Saudi Arabia’s NEOM, which is building a $500 billion mega financial zone, said past 7 days it had signed an settlement with Air Products and Saudi Arabia’s ACWA Electricity for a $5 billion inexperienced hydrogen-primarily based ammonia output facility.

Reporting by Marwa Rashad Modifying by Alex Richardson and
Edmund Blair

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