Bidding for projects to exploit 13 limestone blocks near Saudi capital Riyadh will start in June, newspapers reported on Wednesday.
The Industry and Mineral Resources Ministry invited 25 prequalified companies for a “virtual workshop” on May 30 to explain project terms and competition mechanisms, the papers said, quoting a Ministry statement.
“The Ministry will later organise five-day field visits by the pre-qualified companies to the sites so they will get acquainted with the work…bidding for the projects will start after the end of those visits in June,” the statement said, acceding to Aliqtisadia newspaper.
In April, the Ministry invited investors to take advantage of its new mining law and bid for the sites in Hafirat Nisah in Al-Muzahmiya Governorate province in Riyadh.
Saudi Arabia, which controls the world’s second largest recoverable oil deposits, announced in 2021 it started enforcing a new law to lure investors into its $1.3 trillion metal industry as part of its Vision “2030” economic diversification scheme.
(Writing by Nadim Kawach; Editing by Anoop Menon)(anoop.menon@lseg.com)
