The largest portion of the infrastructure budget has been allocated for Taif, where an international airport will be developed using a PPP model
Mecca governor Khaled al-Faisal has announced that SR14.6bn ($3.9bn) of new infrastructure projects will be developed across the provinces of Taif, Moya and Misan.
According to a local news report, the largest portion of the budget, SR11bn, is to be allocated to projects in Taif.
The projects in Taif include “a new international airport and the construction of Okaz city, a technology oasis, a housing complex, an industrial city and university campus.”
It should be noted, however, that the new international airport in Taif is being developed using a public-private partnership (PPP) model.
It is understood that the planned road projects in the three provinces would cost more than SR899m, water projects would cost an estimated SR1.8bn and electricity SR1.4bn.
Other allocations are for education or schools (SR100m), healthcare (SR500m) and social infrastructure projects (SR130m).
MEED understands a second 10-year development plan will be announced at an investment forum in the summer.
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