The opening day of the Saudi Contractors Authority’s (SCA) Future Projects Forum in Riyadh witnessed the signing of three memoranda of understanding (MoU), two agreements, as well as a contract, between Saudi Arabia’s governmental entities and private firms from the region.
The SCA – which was established through the kingdom’s Council of Ministries resolution No. 510 dated 23/11/1436H to organise and develop the KSA contracting sector – signed three MoUs, including one each with the Ministry of Industry and Mineral Resources, the Saudi Centre for Governance, and the National Program for Commercial Coverage.
The SCA also inked two deals, including one with the Ministry of Municipal and Rural Affairs, as well as another with Saudi Arabia’s Human Resource Development Fund ‘Hadaf’.
The forum also witnessed a contract signed between Saudi’s Al-Kifah and Spain’s Grotek, the state-run Saudi Press Agency, confirmed.
FPF 2020 – which is the second edition of the Future Projects Forum – is being held at the Hilton Riyadh Hotel & Residences in the Saudi capital on 25-26 February. The event will showcase 850 projects worth an estimated value of more than $160bn (SAR600bn).
Close to 2,000 contractors, as well as 35 government and private entities, have congregated under a single roof for what is considered to be the largest gathering of its kind in the Middle East, representing sectors including oil, industry, tourism, entertainment, transportation, housing, infrastructure, and mining, among others.
The Red Sea Development Company's (TRSDC) chief project delivery officer, Ian Williamson, will deliver a keynote address on the gigaprojects on Day 2 of the FPF 2020, which will also note the presence of Qiddiya Investment Company (QIC) and AMAALA.
The forum provides an opportunity for contractors to discover future opportunities and explore projects, enabling them to prepare their future plans. It also provides a platform for project owners and government entities to review projects, enhancing principles of transparency and competitiveness. In addition, the forum also offers the opportunity to network and build relationships.
The forum will also witness the participation of Saudi Aramco, Saudi Basic Industries Corporation (SABIC) – the largest oil and petrochemical entities in the world – as well as the Saudi Commission for Industrial Estates and Technology Zones (MODON), and the Dari’a Gate Development Authority, among others.