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.
| This article has been unlocked to allow non-subscribers to sample MEED’s content for FREE. MEED provides exclusive news, data and analysis about the Middle East every day. Subscribe to MEED to have full access to Middle East business intelligence. Click here |
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
