RIYADH: At least SR10 billion ($2.66 billion)聽worth of contracts will be awarded to various companies to聽speed up the construction of a mega entertainment and sports project in the Saudi capital聽Riyadh, the Qiddiya Investment Company announced on Thursday.
The funding will be backed by the Kingdom's Public Investment Fund.
The Qiddiya project includes a number of art, entertainment and sporting facilities, and聽is being built on a 334 square-kilometre site close to Riyadh.
Its construction聽forms part of 海角直播鈥檚 Vision 2030 program that aims to diversify the Kingdom鈥檚 economy.
鈥淲e鈥檝e awarded well over 1 billion riyal in contracts so far and that figure is going to jump, maybe ten聽times to 10 billion riyals, which will all be construction related contracts,鈥 Michael Reininger, chief executive told聽.
