Parsons (NYSE: PSN) announced that it has been awarded a five-year, 210 million riyals ($56 million) contract to develop Phase II of the Diriyah project in Saudi Arabia, one of the Public Investment Fund's (PIF) flagship projects.<\/p>\n
The contract awarded to Parsons includes supporting the development of a number of vital facilities within the project, including distinctive parks, open spaces, neighborhood parks, and green areas spanning more than 55 km. The work will include the design and supervision of streets, pedestrian walkways, buildings and civil facilities within the public realm of the project, as well as the design and implementation of the streets, pedestrian walkways, buildings and civil facilities.<\/p>\n
Pierre Santoni, Head of Infrastructure EMEA at Parsons, said the project represents a unique opportunity to contribute to the development of an iconic destination that celebrates Saudi Arabia's rich heritage.<\/p>\n
He emphasized that the company will employ its modern technologies and innovative urban planning practices, while preserving the 300-year-old Najdi architectural style, to develop a sustainable and modern environment.<\/p>\n
Diriyah Company seeks to transform this project into a mixed-use destination that blends modern architectural history with Saudi traditions, providing an ideal environment to live and work, and when completed, the project will form a fully pedestrianized area, attracting millions of visitors annually.<\/p>\n
Jerry Inzerillo, CEO of Diriyah, said that signing this contract with Parsons reflects the company's commitment to accelerate the development of the project, which has a total cost of about 236 billion riyals ($63.2 billion), and added that the project will enhance Diriyah's position as a modern urban center that can accommodate hundreds of thousands of residents and attract millions of visitors annually.<\/p>\n
Parsons has partnered with the Public Investment Fund (PIF) in the Kingdom since 2017, and is one of the most prominent companies supporting mega projects such as NEOM the Line, NEOM Oxagon, Souda Peaks, and projects under the Kingdom's Vision 2030.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Parsons (NYSE: PSN) has been awarded a five-year, 210 million riyals ($56 million) contract to develop the second phase of the Diriyah project in Saudi Arabia, one of the Public Investment Fund's (PIF) flagship projects. The contract awarded to Parsons includes support for the second phase of the Diriyah project... 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