Emaar EC awards SAR 547M infrastructure project to Nesma & Partners

Emaar The Economic City awarded on May 4 an infrastructure project within the Industrial Valley and the Special Economic Zone at King Abdullah Economic City to Nesma & Partners, according to a statement to Tadawul.

According to a statement to Tadawul, the project was awarded on May 4, following completion of evaluation and feasibility updates, noting that it involves developing infrastructure for areas within the Industrial Valley and the Special Economic Zone in King

Abdullah Economic City, including Phase 1 of the King Salman Automotive Cluster.

These areas are partially developed and require completion of key infrastructure works to support existing tenants and meet contractual commitments.

The company also noted that the Public Investment Fund (PIF), a major shareholder in Emaar EC, owns a 30.1% stake in Nesma & Partners.

Emaar EC will announce the contract signing with Nesma & Partners once finalized, the statement added.