Saudi Aramco expects to award imminently a contract to design, finance, build and operate a housing project, the first such scheme to be developed by the oil giant utilising a public-private partnership (PPP) model.
The project is called East-West Pipeline Residential Compounds, and the housing is distributed across six locations.
The residential scheme is one of many PPP projects planned by Saudi Arabia as it looks to increase the role of the private sector in the economy.
The East-West Pipeline, which extends 1,200 kilometres, is Aramco’s main cross-country pipeline. It pumps crude oil from the eastern fields to refineries located in the west of the country.
The pipeline capacity is currently being expanded from 5 million barrels a day (b/d) to 7 million b/d.