Saudi Real Estate Infrastructure Company (Binyah), a subsidiary of Tadawul-listed Saudi Real Estate Co. (Al-Akaria), has secured a significant contract to construct a Treated Effluent Sewage (TSE) network as part of the Green Riyadh mega project.

The contract for the TSE Network for Green Riyadh Programme – Group Eleven project, valued at 660.3 million Saudi riyals (approximately $176 million), was awarded by the Royal Commission for Riyadh City, Al-Akaria said in stock exchange statement on Monday.

Green Riyadh project is one of the most ambitious urban forestation projects in the world with the goal to promote Riyadh’s position among the world’s top 100 most livable cities.

It is one of Riyadh four grand projects launched by Saudi King Salman in March 2019, under supervision of the Committee of Grand Projects chaired by the Crown Prince Muhammad bin Salman.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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