Saudi Arabia’s Batic Investments and Logistics Company (Batic) said on Monday that one of its subsidiaries has secured a deal worth 422 million riyals ($112 million) for a smart parking project in the kingdom. 

As part of the 25-year contract, Batic’s subsidiary Smart City Solutions Company (SCSC) will develop, establish and operate smart parking lots, as well as multiple hydraulic and parking spaces, in Saudi’s Buraidah city. 

The project covers a total of 8,000 parking spaces within the central area of Buraidah and is in line with the kingdom’s Vision 2030, Batic told the Saudi Stock Exchange (Tadawul) 

Batic owns 72.8 percent of SCSC, a provider of technical services and solutions for communities looking to build smart cities. 

(Writing by Cleofe Maceda; editing by Seban Scaria ) 

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