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The project will secure a diverse range of cultural, educational, retail, office, residential and hotel developments in Diriyah Square, the Qurain Cultural District, and Northern District areas Riyadh: Diriyah Company, a unit of the Saudi Public Investment Fund (PIF), has opened two major electricity substations, operated by the Saudi Electricity Company (SEC). They are expected to accelerate the growth and development of major assets now being established across The City of Earth in Diriyah and Wadi Safar, according to a press release. With a contract value of SAR 605 million ($161 million), the two substations will support the asset development in the first phase of Diriyah’s scheme. They will be implemented by the SEC through Saudi Services for Electro Mechanic Works (SSEM). The project will secure a diverse range of cultural, educational, retail, office, residential and hotel developments in Diriyah Square, the Qurain Cultural District, and Northern District areas. Furthermore, a major cabling contract valued at SAR 316 million ($84 million) will be implemented by the Tadawul-listed firm through the Civil and Electrical Projects Contracting Company (CEPCO). The 200 MVA 132/33 kV Primary Substation, valued at SAR 77 million ($20 million), will be set up by the SEC through (MAETEL) contracting company. It will serve as one of the primary power sources for Wadi Safar. Through the (DELTA) contracting company, SEC will operate a major cabling contract valued at SAR 168 million ($45 million) to boost the energisation of the substation. Jerry Inzerillo, Group CEO of Diriyah Company, said: With the two large-scale cabling contracts to operate alongside the new substations, they represent further confirmation that we are progressing on time and within budget as we create one of the world’s greatest gathering places.” Last December, the PIF-owned company awarded a SAR 758.50 million deal to China Harbour Engineering Company to undertake bulk excavation works in Diriyah’s second phase. |
