Diriyah Company awards a $1.13bln construction contract to relocate King Saud University's utilities and administration offices within the Diriyah masterplan
Diriyah: Diriyah Company has awarded a $1.13 billion (SAR 4.225 billion) construction contract to relocate the existing utilities and administration offices of King Saud University (KSU) within the Diriyah masterplan.
The contract has been awarded to a Joint Venture comprising China Railway Construction Corporation Limited Saudi Branch and China Railway Construction Group Central Plain Construction Co. Ltd (CRCCSA & CRCGCPC).
Commenting on the announcement, Diriyah Company Group CEO Jerry Inzerillo said: 'We are delighted to announce this major contract to support King Saud University, whose campus adjoins the Diriyah development area. This agreement marks yet another important step in aligning our efforts to advance educational and infrastructural excellence in the Kingdom. We are proud to support one of the Kingdom's leading academic institutions in delivering enhanced infrastructure services that will benefit both its students and the broader university community.'
Mr. Li ChongYang as Chairman of China Railway Construction International Group Co., added: 'We are honored to collaborate with Diriyah Company on this significant and unique development. This contract reflects our commitment to delivering world-class infrastructure with the highest standards of quality and efficiency. We look forward to contributing to the success of this iconic project and supporting the continued growth of King Saud University.'
The overall scope of the contract is for the design, construction and relocation of KSU Utilities & Administration Offices, as well the construction of a district cooling plant; water storage facilities; sewage treatment plant; LPG/SNG plant; diesel transfer pumping station; a utility tunnel; irrigation water storage tanks; office buildings, warehouses, and maintenance workshops.
Within the same area, Diriyah Company is also planning several other assets in the future.
This contract marks the latest in a series of large-scale contract awards by Diriyah Company, as the 14-square-kilometer City of Earth continues to take shape. With this addition, the total value of awarded contracts has now surpassed $2.9 billion since the beginning of 2025.
Backed by the Public Investment Fund, Diriyah is an integrated urban development project that will, once completed, provide homes for almost 100,000 residents, office space for tens of thousands of professionals in the technology, media, arts and education sectors, create an estimated 178,000 jobs, attract almost 50 million annual visits, and contribute approximately USD 18.6 billion (SAR 70 billion) directly to Saudi Arabia's GDP.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
3 hours ago
- Zawya
GIA Redefines Lab-grown Diamond Grading Standards Discontinuation of 4Cs Grading System Enhances Differentiation Between Natural and Lab-Grown Diamonds
HONG KONG SAR - Media OutReach Newswire - 10 June 2025 - The Gemological Institute of America (GIA), the world's foremost authority in gemology announced a redefinition in diamond grading on June 2, 2025. Beginning at the end of 2025, GIA will cease using the internationally recognized 4Cs grading system (Cut, Colour, Clarity, Carat) for lab-grown diamonds. Instead, GIA will implement a new descriptive grading system that lab-grown diamonds submitted to GIA will receive simplified descriptors—categorized broadly as either "premium" or "standard" or no grade at all if the quality is subpar. This transformative change marks a historic shift in the global diamond industry, not only redefining the value perception of lab-grown diamonds but also enhancing the differentiation between natural and lab-grown diamonds. This initiative is not merely a terminology adjustment; it represents a systematic effort to separate the grading systems for lab-grown and natural diamonds. As a non-profit organization, GIA emphasizes the fundamental differences between the two, including their formation processes, physical characteristics, and market values. According to Tom Moses, GIA Executive Vice President and Chief Laboratory and Research Officer, "More than 95% of lab-grown diamonds entering the market fall into a very narrow range of color and clarity. Because of that, it is no longer relevant for GIA to describe man-made diamonds using the nomenclature created for the continuum of color and clarity of natural diamonds." Reaffirming the Unique Value of Natural Diamonds This revision of grading standards is another milestone following GIA's abandonment of the term "Synthetic" and its move to describe lab-grown diamonds in relation to natural diamond standards. GIA created the 4Cs—cut, colour, clarity, and carat weight—as a rigorous system to help consumers understand the unique and qualities of natural diamonds. With the new lab-grown diamond grading system, the core value of natural diamonds—rarity and emotional attributes are further emphasized. No two natural diamonds are exactly alike. Every natural diamond is unique, characterized by its distinct growth patterns, inclusions, and colour formed over billions of years. These nature's treasures, formed deep within the Earth, are considered valuable collectibles due to their beauty, rarity and non-renewability. They symbolize values associated with love, commitment, and eternity, while also contributing to the social and economy welfare of the diamond mining communities through responsible mining practices. In contrast, lab-grown diamonds are man-made and mass-produced using high-pressure high-temperature (HPHT) or Chemical Vapor Deposition (CVD) processes. Their industrial nature limits their ability to embody the multiple values associated with natural diamonds, including emotional attributes, rarity, investment potential, and heritage. GIA's reform not only reaffirms the irreplaceable status of natural diamonds but also clarifies that lab-grown diamonds should not be assessed using the same criteria as natural diamonds. Ensuring Consumer Awareness and Transparency Over time, some lab-grown diamond sellers have been using ambiguous marketing terms such as "sustainability" and "equivalency" that may mislead consumers about the differences between lab-grown and natural diamonds. GIA's new approach ensures consumers can make informed choices without confusion, protecting their rights to knowledge, choice, and fair trade. By discontinuing the use of the 4Cs standard for lab-grown diamonds, GIA reaffirms its commitment to scientific integrity and public transparency. GIA's grading redefinition is poised to have a profound impact on the global jewellery industry. As this change takes effect by the end of 2025, it is anticipated that gemological institutes worldwide will follow suit. The boundaries between natural and lab-grown diamonds are clearly defined through GIA's new grading standards. Hashtag: #GIA #NaturalDiamonds #LabGrownDiamonds #DiamondCertification #DiamondGrading The issuer is solely responsible for the content of this announcement. A Diamond is Forever
TECHx
9 hours ago
- TECHx
Dubai Gaming Sector Sees Growth with DPG33
Home » Top stories » Dubai Gaming Sector Sees Growth with DPG33 Dubai has announced strong growth in its gaming sector. The Program for Dubai Gaming 2033 (DPG33), overseen by the Dubai Future Foundation, revealed that the city is now home to over 350 gaming-related companies. Out of these, 260 companies are specialised game developers. This contributes to a global industry valued at USD 200 billion. Since DPG33 launched in November 2023, more than 60 new companies have been established in Dubai. Of these, 12% are large global firms. This marks a growth rate of 16.6% since the program's launch. The gaming industry is emerging as one of Dubai's most promising economic sectors. His Excellency Khalfan Belhoul, CEO of the Dubai Future Foundation, stated that the progress reflects Dubai's future vision. He added that the city's focus is on economic diversification and proactive investment in current and future opportunities. Belhoul noted that the gaming sector offers strong economic potential. He said Dubai remains a land of opportunity for innovators and creators. The sector benefits from a supportive ecosystem for entrepreneurs, especially in advanced technology and game development. DPG33 was launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, in November 2023. It aims to position Dubai among the world's top 10 global gaming hubs by 2033. The program also targets the creation of 30,000 new jobs and a USD 1 billion boost to GDP. DPG33 focuses on: Nurturing talent and entrepreneurship Embracing tech innovation and digital content creation It also creates training and job opportunities through global firms and academic partnerships. The program leads local and international events and fosters collaboration among individuals, businesses, and regulators in Dubai and beyond. The Dubai gaming industry continues to gain momentum, reinforcing its position on the global stage.
Zawya
12 hours ago
- Zawya
BAIC Announces 2025 Vehicle Lineup for International Automotive &Supply Chain EXPO (HONG KONG)
HONG KONG SAR - Media OutReach Newswire - 9 June 2025 - From June 12 to 15, the INTERNATIONAL AUTOMOTIVE&SUPPLY CHAIN EXPO in Hong Kong will host a major international auto show under the theme "New Car, New Journey." The event will bring automakers, experts and media together showcasing future mobility innovation and trends. At the upcoming exhibition, BAIC Group will present both passenger and commercial lineup, such as the BJ40PLUS RHD and X55 II RHD. BEV models include ARCFOX αS5, ARCFOX αT5 and STELATO S9(REEV). Internationalization is one of BAIC Group's core the general platform of internationalization, BAIC INTL comprehensively coordinates the overseas business. Since its established in 2013, BAIC INTL has expanded to more than 50 countries, establish nearly 300 sales network , and set up eight KD plants—including one wholly owned overseas production base. Its portfolio consists of three distinct brands: BAIC, focused on mainstream and off-road models; ARCFOX, a high-end NEV brand expanding from electric to hybrid offerings; and STELATO, targeting the luxury new energy segment. At the show, BAIC will unveil a range of advanced technologies, including its self-developed Polaris EV platform and the world's first AI-integrated cockpit system. Driven by artificial intelligence, the company is building a closed-loop innovation system that connects user insight, product development, and after-sales service—enabling continuous product evolution and a more intelligent mobility experience. From June 12 to 15, visit Booth C02, Hall 6 at AsiaWorld-Expo to discover how BAIC is driving the next chapter of global mobility—powered by technology, guided by innovation. Hashtag: #BAIC The issuer is solely responsible for the content of this announcement. BAIC INTL.
