Emaar The Economic City (Emaar EC) has awarded a contract with Nesma & Partner, a local contractor, for the construction of infrastructure networks within the Special Economic Zone at the Industrial Valley in King Abdullah Economic City (KAEC).

The contract is valued at 547.4 million Saudi riyals ($145.64 million), the company said in a statement to the Saudi stock exchange.
  
The scope of work includes infrastructure works for the first phase of the King Salman Automotive Cluster and other strategic projects within the Industrial Valley. It also covers critical infrastructure works to support existing customers and fulfill contractual commitments.
 
The financial impact of the 18-month contract will be reflected in the company's third-quarter 2026 results.
 
The Public Investment Fund (PIF) owns a 30.1 percent stake in Nesma & Partner and holds 55.55 percent stake in Emaar EC.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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