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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Chinese firm bags $974m Madinah tunnel project

Madinah is the first Arab city to receive this recognition. (Pic Visit Madinah)
By TRENDS Desk
June 10, 2022 5:28 pm
  • Canada’s WSP and US-based Parsons are among consultants working on the project while Rua al-Madinah Holding is the client
  • Al-Amida road will serve as an alternative to the current ring road, through expanding the roadway to six lanes

Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm, to be built at the cost of $974 million.

The project also involves the construction of a pedestrian bridge.

Al-Amida road will serve as an alternative to the current ring road, through expanding the roadway to six lanes, upgrading the Ali Bin Abi Taleb traffic tunnel and connecting Al-Amida to the King Faisal ring road.

Canada’s WSP and US-based Parsons are among consultants working on the project while Rua al-Madinah Holding is the client.

Saudi Arabia also witnessed a tunneling project in NEOM, in June, with contracts being awarded for the bored tunneling sections of The Line.

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