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US-based global infrastructure engineering consultancy Parsons Corporation announced last week that it has been awarded contracts for two major projects in Saudi Arabia.
The NYSE-listed firm announced on 2 February that it has been selected by Rua Al-Madinah Holding Company (RAM-H), a subsidiary of the Public Investment Fund (PIF), to provide construction project management consultancy and contract administration services (PMCM) for the Rua Al Madinah mega mixed-use real estate project in the holy city of Al-Madinah Al-Munawarah.
Under the $15 million contract, Parsons will manage the main infrastructure works including the tunnel, road, and utility works for Rua Al-Madinah project, the NYSE-listed firm said in a press statement.
A day before, on 1 February, Parson said it has been appointed as a delivery partner for THE LINE, the centrepiece project for NEOM giga development in North-West Saudi Arabia.
The contract was awarded to Parsons under a framework agreement for consultancy services on THE LINE, the company said in its press statement. In collaboration with NEOM and other delivery partner organisations, Parsons will provide project and construction management consultancy services for the design, procurement, construction, testing and commissioning of the project, together with the management of the critical interfaces that the project shares with adjacent NEOM projects and logistics.
Rua Al-Madinah project
The 1.5 million square-metre development will provide 63 percent of open, green spaces; new modes of transportation and parking that will provide easy access to the Prophet’s Mosque, surrounding residences, and commercial spaces; and host 47,000 hotel rooms to help accommodate the 30 million Islamic pilgrims that will visit the city in the coming years, the Parsons statement said.
The Madinah project represents the first phase of Madinah Central Area mega development and is projected to add $37 million to the GDP and will create 93,000 new jobs, it added.
Last month, Rua Al Madinah Holding, which is had announced that the signing of five major agreements for hotels, support offices in Madinah.
In August 2022, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz inaugurated the infrastructure works and unveiled the master plan for Rua Al Madinah project.
THE LINE project
The 170-km long, 200m wide and 500m tall linear urban development is being designed to have no cars, no roads, no carbon emissions, and to operate on 100 pecent clean energy.
Parsons said THE LINE’s delivery partners will build a team across multiple areas of expertise and are expected to grow to approximately 6,000 staff at peak (2025-26).
(Writing by Senthil Palanisamy; Editing by Anoop Menon)
