Latest news with #Expo2030RiyadhCompany
Zawya
17-07-2025
- Business
- Zawya
Bechtel awarded PMC contract for Expo 2030 in Saudi Arabia
US-headquartered global engineering and construction firm Bechtel announced on Wednesday that it has been appointed project management consultant (PMC) for the 2030 World Expo in Riyadh, Saudi Arabia. Working with Expo 2030 Riyadh Company, Bechtel will oversee delivery of the infrastructure program across the six-square-kilometre site, including early works, utilities, roads, and the public realm, the company said in a press statement. Following the six-month event, Bechtel will also support transforming the site into sustainable urban development, continuing to serve as a hub for green innovation, cultural celebration, and commerce. Expo 2030 Riyadh will bring together more than 195 countries, 29 international organisations, and other participants under the theme 'Foresight for Tomorrow.' The organisers expect approximately 42 million event visitors. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Yahoo
16-07-2025
- Business
- Yahoo
Bechtel Selected as Project Management Consultant for the 2030 World Expo in Saudi Arabia
RIYADH, Saudi Arabia, July 16, 2025 /PRNewswire/ -- Bechtel today announced it has been appointed project management consultant (PMC) for the 2030 World Expo in Riyadh, Saudi Arabia. Held every five years in a different host country, the 2030 event, with the theme "Foresight for Tomorrow," will center on the Kingdom's Vision 2030 roadmap toward a vibrant society, thriving economy, and ambitious future. Expo 2030 Riyadh is anticipated to be one of the most significant events of 2030. It will bring together more than 195 countries, 29 international organizations, and other unofficial participants. The organizers expect approximately 42 million event visitors. "The Expo 2030 Riyadh will highlight Saudi Arabia's remarkable transformation since the launch of the Saudi Vision 2030 in 2016, and showcase progress across the Kingdom's economic, social, and cultural sectors," said Darren Mort, president of Bechtel's Infrastructure business. "Bechtel has been a trusted partner in the Kingdom for over eight decades, and we are proud to support this legacy project that will highlight our customer's vision for sustainability, innovation, and connectivity." Working with Expo 2030 Riyadh Company, Bechtel will oversee delivery of the infrastructure program across the six-square-kilometer site, including early works, utilities, roads, and the public realm. Following the six-month event, Bechtel will also support transforming the site into sustainable urban development, continuing to serve as a hub for green innovation, cultural celebration, and commerce. Expo 2030 Riyadh is positioned to serve as a global platform for innovation, collaboration, and dialogue. The event's masterplan reflects the Kingdom of Saudi Arabia's commitment to long-term development, incorporating international sustainability standards across areas such as tree planting and reforestation, water treatment, and renewable energy sources. Learn more about Bechtel's Infrastructure business at About Bechtel Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers' objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place. Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. Media Contact:Isabel Onabaionaba1@ View original content to download multimedia: SOURCE Bechtel Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yemen Online
24-06-2025
- Business
- Yemen Online
Saudi PIF launches new company to run Expo 2030
Saudi Arabia's $925 billion sovereign wealth fund PIF said on Thursday it had launched a new unit that will be responsible to build and operate the facilities for the Expo 2030 world fair. The company will be called Expo 2030 Riyadh Company, PIF said in a statement to Reuters, adding that the masterplan for the project covered an area of 6 million square meters to the north of the city, close to the future King Salman International Airport. Expo 2030 is set to take place the same year Saudi Arabia's de-facto ruler Crown Prince Mohammed Bin Salman's economic diversification plan culminates. Under the program, dubbed Vision 2030, the Gulf country is pouring billions in sectors including tourism to wean its economy off oil revenues. Expo 2030 represents another large-scale building project that the kingdom has committed to on a strict deadline, even as its economy has been hamstrung by lower oil prices. The kingdom faces a widening budget deficit with the International Monetary Fund saying Riyadh needs a price of oil of over $90 per barrel to balance its books. Oil prices have jumped to mid-seventies in recent weeks as investors weighed the chance of supply disruptions from the Iran-Israel conflict. Saudi Arabia is committed to hosting several other large international events in succession, each of which require significant spending on construction and development, including the 2029 Asian Winter Games and the 2034 World Cup. Expo 2030 Riyadh is projected to attract more than 40 million visits and, once operational, it is expected to contribute around $5.6 billion to Saudi Arabia's GDP, PIF said.
ME Construction
23-06-2025
- Business
- ME Construction
PIF launches Expo 2030 Riyadh Company
Industry News PIF launches Expo 2030 Riyadh Company By The company will develop Expo as a model for sustainable tourism, and preserve the event's legacy and is projected to contribute $70 billion to Saudi's GDP Saudi Arabia's PIF has announced the creation of the Expo 2030 Riyadh Company (ERC) to oversee the construction and management of the facilities for Expo 2030 Riyadh, Saudi Arabia's inaugural World Expo. The company will also be responsible for ensuring the preservation of the event's legacy. The masterplan for Expo 2030 Riyadh encompasses an area of six million sqm, positioning it as one of the largest World Expo sites. The Expo will be situated to the north of the city, in proximity to the King Salman International Airport, and will provide direct access to the Saudi capital's landmarks. Expo 2030 Riyadh is anticipated to attract over 40m visitors. Following the conclusion of the event, ERC will embark on a transformative journey to convert the Expo's gated area into a global village, serving as a multicultural hub for retail, gastronomy, and beverages. The development will encompass an international residential community with amenities, establishing new standards in sustainable tourism, said a statement. PIF said that it remains steadfast in its strategic objective of achieving economic impact for Saudi Arabia, while securing sustainable returns. As one of the investors, PIF has accelerated Saudi Arabia's economic diversification, facilitating the emergence of pivotal sectors and opportunities that contribute to the global economy. Notably, PIF leads the development of transformative giga-projects and landmark real estate initiatives throughout Saudi Arabia. Saad Alkroud, Head of the Local Real Estate Investment Division at PIF said, 'ERC benefits from PIF's diverse local and global ecosystem and the establishment of the company aligns with PIF's local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030.' ERC said that it is promptly initiating operations to fulfill its mandate. It will collaborate with local and global private sector entities to attain its objectives in the areas of construction, cultural programming, and event management, the statement concluded.
Mid East Info
20-06-2025
- Business
- Mid East Info
PIF launches new company to deliver Expo 2030 Riyadh - Middle East Business News and Information
Expo 2030 Riyadh Company will develop Expo as a model for sustainable tourism, and preserve the event's legacy Expo 2030 Riyadh is projected to contribute almost $70 billion to Saudi GDP PIF leads development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia RIYADH – June, 2025 – PIF today announced the launch of Expo 2030 Riyadh Company (ERC), wholly owned by PIF, to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia's first World Expo – as well as preserving the legacy of the event. The masterplan for Expo 2030 Riyadh covers an area of 6 million square meters, making it one of the biggest World Expo sites. The Expo will be to the north of the city, near the future King Salman International Airport, and with direct connections to the Saudi capital's landmarks. Expo 2030 Riyadh is projected to attract more than 40 million visits. After the Expo event, ERC plans to lead the transformation of the Expo's gated area into a global village to serve as a multicultural hub for retail, food and beverage, surrounded by an international residential community with world-class amenities, and setting new standards in sustainable tourism. PIF continues with its strategic mandate: to achieve economic impact for Saudi Arabia while securing sustainable returns. PIF is one of the world's most impactful investors, driving Saudi Arabia's economic diversification while also enabling the creation of key sectors and opportunities that help shape the global economy. PIF leads the development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia. Saad Alkroud, Head of the Local Real Estate Investment Division at PIF said: 'ERC benefits from PIF's diverse local and global ecosystem and the establishment of the company aligns with PIF's local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030.' ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management. Expo 2030 Riyadh runs from Oct. 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. It marks the city's status as one of the world's fastest-transforming capitals, one that combines sustainability, connectivity and quality of life at scale. Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round. During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately $5.6 billion to GDP. Countries participating in Expo 2030 Riyadh will have the option of building permanent pavilions and being part of the event's legacy. The Expo will provide opportunities for long-term business and investment growth. ABOUT PIF: PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment. And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future. Since 2017, PIF has established 103 companies and is driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.
