Red Sea Development Co. signs $2bn in new contracts, 70% to local companies

The Red Sea Development Co. (TRSDC) signed more than 500 contracts for a total value of $2 blln so far, out of which 70 percent were awarded to local companies, Ahmed Ghazi Darwish, Chief of Staff at TRSDC, told Argaam in an exclusive.

He further added that construction of the base camp at the Red Sea project started in February 2019, noting that the developer seeks to have Saudi companies as partners in the project success.