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Saudi Arabia unveils $1.3bn development projects

RIYADH, June 28, 2016

The Saudi government has announced development projects worth SR5.1 billion ($1.3 billion) in the Madinah region including the setting up of new power plants as well as implementation of a sanitary drainage network, said a report.

The announcement was made by King Salman during his second official visit to the city since his ascension to the throne, reported Saudi Gazette.

The Saudi King launched a number of projects focusing on the health, education, cultural and services sector. He allocated SR693 million ($185 million) for development of key facilities at Taibah University and an Islamic university in Madinah to be set up at an investment of SR843 million ($225 million).

To boost the power sector in Madinah, the monarch unveiled new services projects worth SR1 billion ($266 million).

As per the deal, Saudi Electricity Company will be setting up a new plant in downtown Madinah besides revamping the existing plants in Uhud, among others.




Tags: Saudi Arabia | development |

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