Emaar, the Economic City (EmaarEC), the master developer of King Abdullah Economic City (KAEC), has announced that it has awarded a SAR547.3 million ($146 million) contract to Nesma and Partners Contracting Company to carry out infrastructure development works within the Industrial Valley and the Special Economic Zone at KAEC.

The scope of work includes Phase One of King Salman Automotive Cluster within the mega Saudi development, said EmaarEC in its filing to Saudi bourse tadawul. 

These areas are partially developed and require completion of key infrastructure works to support existing tenants and meet contractual obligations, it stated.

The Saudi sovereign wealth fund PIF,  a major shareholder of EmaarEC, owns 30.1 per cent of Nesma and Partners.