INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Chinese firm bags $974m Madinah tunnel project

Madinah is the first Arab city to receive this recognition. (Pic Visit Madinah)
  • 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.