RIYADH: As part of a major private sector initiative aimed at expanding educational facilities across the Kingdom, Al-Rajhi Group has announced plans to set up a multi-million dollar university project in Qassim, some 400 km north of Riyadh.

The university — named Suleiman Al-Rajhi University (SRU) — signed an agreement with KPMG Al-Fozan under which KPMG will help the university establish itself by providing world-class services in IT and human resources.

Speaking on the occasion of the signing ceremony here yesterday, Dr. Khalid Al-Rajhi, an SRU founder member, said the state-of-the art non-profit university to be located at Bukairiya in Qassim will start functioning and offering courses in September next year.

“SRU, which strives to achieve international distinction in education and research, also aims to contribute substantially to the development of the local community, particularly in the Qassim region,” said Al-Rajhi.

The establishment of SRU in Qassim, the seventh most populous province out of the Kingdom’s 13 provinces, will be a major addition to existing health care and educational facilities. Agriculture has been the cornerstone of the province’s economy, while Buraidah, the capital of Qassim, has emerged as one of the biggest dates producers worldwide. Al-Rajhi Group, which has investments across the Kingdom, has massive investments in agriculture projects in the region, which still lags in education and health care.

Speaking about the signing of the agreement, Al-Rajhi said: “KPMG was a clear choice, given their ability to present to us a complete solution from concept to reality, using appropriate resources from their vast global reach.”

The signing ceremony at Al-Rajhi Poultry Farm office here was attended by Abdullah bin Hamad Al-Fozan, KPMG senior partner; Professor Saleh bin Abdullah Al-Damegh, SRU chief supervisor; and Peter Hynes, KPMG partner in-charge for the university project.

Spelling out the salient features of the SRU-KPMG tie up, Al-Fozan said the agreement forms the basis for building a world-class institution, which would play “a key role in the development of the education sector in Saudi Arabia.”

KPMG was selected for this major project because of its strong track record in the education sector within the Kingdom and internationally, he added. SRU will have a medical college, a nursing college, an applied medical sciences college and a specialized university hospital to serve the local community of Qassim and the Kingdom as a whole.

“We are particularly happy to be working with Al-Rajhi Foundation, a name that requires no introduction and is renowned for its commitment and leadership in serving the Kingdom,” said Al-Fozan.

KPMG is a global network of professional firms providing audit, tax and advisory services. It currently operates in 144 countries and has more than 137,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated to KPMG International, a Swiss cooperative.