Riyadh – Mubasher: The Saudi Contractors Authority has signed a partnership agreement with Saudi Arabia Basic Industries Corp (SABIC) to boost the standards of the kingdom’s construction sector.
Under the contract, State-controlled SABIC will transfer its experience in the sector to enhance the implementation of the local construction projects in line with the state-of-the-art standards.
The deal will enhance the Saudi Vision 2030 that aims to diversify the kingdom’s economy and invest more heavily in infrastructure.
“The agreement would “support and guide” the local construction sector, which would benefit from SABIC’s “extensive experience in construction, project management, contracting, sustainability, and the qualification and selection of contractors”, SABIC vice president Yousef bin Abdullah Al-Bunyan told the Saudi Press Agency (SPA)
The construction industry is considered the second largest non-oil economic sector in the GCC country.
“The MoU would stimulate the national economy and local output in contracting, as well as enhance the sector’s performance and technological prowess,”Al-Bunyan said.
