RIYADH: An excavation contract worth SR758.5 million ($201.8 million) has been awarded to China Harbor Engineering Co. by Diriyah Co., as development of the city continues ahead of schedule.
The work, spanning 6.3 sq. km in the second phase of the project, will prepare the site for major cultural assets, including the Royal Diriyah Opera House and the 20,000-seat Diriyah Arena.
More than 600 heavy machines will be used during the excavation, and the awarding of the contract marks a significant milestone in the realization of the Public Investment Fund’s Diriyah Co. masterplan for the area.
With more than 40 hotels, arts districts, museums, and world-class sporting venues planned, Diriyah will serve as a cultural and economic hub on the outskirts of Riyadh, supporting the Kingdom’s Vision 2030 goals.
“We are excited to begin bulk excavation works in the second phase of the Diriyah project, marking another key milestone in the development of ‘The City of Earth,’” said Jerry Inzerillo, Group CEO of Diriyah Co.
“Progressing ahead of schedule, this excavation will enable smooth and efficient development of major cultural assets that will attract millions of visitors annually to Diriyah and inspire the world,” he added.
The development is projected to create 178,000 direct jobs and contribute SR70 billion to the national economy, aiding the Kingdom’s goals of economic diversification and job creation.
By 2030, Diriyah is expected to host over 100 restaurants and educational institutions, attracting 50 million visits annually.
Diriyah Co. will apply circular economy principles to the project, repurposing excavated materials for road bases, landscaping, and backfill in accordance with international sustainability guidelines.
This approach aims to enhance environmental performance and sustainability across the development.
Yang Zhiyuan, CEO of China Harbor Engineering Co. Ltd., emphasized the project’s alignment with sustainable development goals.
“We are honored to collaborate with Diriyah Co. on the execution of the Bulk Excavation Works project. We will focus on environmental protection awareness and sustainable development concepts during implementation, ensuring the timely delivery of the project, contributing to the preservation of Diriyah’s heritage, cultural exchange and the development goals of Saudi Vision 2030,” Zhiyuan said.
The excavation contract is the latest in a series of significant awards by Diriyah Co. in 2024, including a $1.55 billion joint venture for the Qurain Cultural District in November, a $2.08 billion agreement for the Northern District in July, and a $2.13 billion deal for four luxury hotels and the Royal Diriyah Equestrian and Polo Club in Wadi Safar, also in July.
