Riyadh, KSA: The Oil Park Development Company (OPDC), a closed joint-stock entity wholly-owned by the Public Investment Fund (PIF) entrusted with spearheading the development of THE RIG., took center stage as a platinum sponsor of the sixth edition of the Future Projects Forum (FPF) organized by the Saudi Contractors Authority (SCA). Held at the Four Seasons Hotel in Riyadh from May 21-22, 2024, the forum serves as an interactive platform between contractors, interested parties and private and public project owners aiming to provide local contractors with the opportunity to access the details of these projects, the requirements of project owners and the mechanism for applying for projects.

Raed Bakhrji, the CEO of OPDC, participated in the event, utilizing key networking opportunities to advance THE RIG.'s development and strategic goals. The main emphasis was on involving local contractors in the development of THE RIG.’s onshore terminals and marina.

Raed Bakhrji, CEO of OPDC, "Our participation in FPF marks a strategic step towards fulfilling the Kingdom's Vision 2030 objectives and our commitment to enriching the local content and bolstering the economy by fostering an ecosystem of growth and development within Saudi Arabia's Eastern Province and creating significant opportunities for local businesses and workforce development.”

In addition to engaging with local contractors, OPDC formalized two strategic Memorandums of Understandings with Saudi Contractors Authority (SCA) and the Maritime Company for Navigation (MACNA). Bakhrji signed both MOUs with Abdulmajid Al Roshoudi, General Secretary of SCA and Alan Rowan, the CEO of MACNA.

The partnership with SCA will involve evaluating qualified contractors according to agreed-upon technical criteria, assessing contractor workloads, and analyzing their technical capacity for project participation. The partnership with MACNA is geared towards improving maritime operations by harnessing MACNA's specialized expertise to enhance efficiency and service standards at THE RIG.'s new terminals and marinas.

Bakhrji underlined the importance of these collaborative partnerships, stating, "By engaging with local contractors and solidifying agreements with SCA and MACNA, we have taken significant steps taken towards realizing our vision for THE RIG. By integrating local content and global standards into our infrastructure development and operational framework, we aim to ensure that the project’s impact reverberates throughout the Saudi economy. These partnerships bring us closer to establishing THE RIG. as a cutting-edge offshore adventure tourism destination that aligns with the goals of Saudi Vision 2030. We actively promote collaboration with local contractors to bring THE RIG. to fruition and extend an invitation to all interested local entities to explore opportunities for working together towards a prosperous future."

Rowan added, "Our collaboration with OPDC on THE RIG. project is a testament to our commitment to enhancing maritime operations and setting new standards for service efficiency. This partnership is not just about infrastructure but also about contributing to the broader economic and social goals of Vision 2030.

Located 40 kilometers from the Arabian Gulf coastline, THE RIG. is set to transform the Eastern Province into a hub of thrill, leisure, and cultural immersion. It will feature three hotels, 11 restaurants, over 70 attractions, a 6,000-person multi-purpose arena, an amusement park, a splash park, and more. Whether an extreme sports enthusiast or someone seeking a more relaxed experience, THE RIG. will cater to visitors of all ages and adventure levels.

For more details on THE RIG. and its offerings, please visit https://therig.sa/