MOSCOW /CNW/ -- This Fall, Russian President Vladimir Putin visited Saudi Arabia on a State visit. Following negotiations between President Putin and the King of Saudi Arabia Salman bin AbdulAziz Al Saud, over 20 documents were signed, including a Russia-Saudi high-level strategic cooperation program.
Many experts have said that as a result of President Putin's visit, Russian-Saudi relations undoubtedly reached a new degree in strategic partnership. Russia expressed a desire to transfer technologies, initially in areas of construction, which will help not only solve the Kingdom's housing problems, but also have a positive influence on the development of the country's economy generally.
Part of the Kingdom's "Vision 2030" initiative, put forward by Crown Prince Mohammad bin Salman, has the ambition to develop mass housing construction to provide affordable and comfortable habitation for the citizens of the Kingdom, increasing housing stock 60% by 2020 and 70% by 2030, providing an affordable market of energy-efficient and environmentally-friendly residences.
Russian builders have introduced and successfully implemented unique ultrafast construction technology for residential building within the Russian Federation. At the heart of this is the use of the unique machinery, which provides high speed production of low cost block rooms – designed with geometric accuracy and most importantly, of high quality for later finishing.
"So far, just a few countries have achieved effective innovation in housing construction, which affects the quality of the construction process, the cost of housing and the speed of facilities being built. Our technologies allow a 17-storey, 3-4 access block to be built in one month. Villas of 250-300 square meters are being built in two days. Some compare our building technology with LEGO, where a child can complete a house from the finished cubes. We are planning to deliver this technology to Saudi Arabia as early as 2020. We built and commissioned more than one million square meters of housing in Russia. We are ready to transfer these unique building technologies to our partners in various countries of the world," noted the Chairman of the Supreme Economic Council of the Eurasian Economic Cooperation Organization, the Honored builder of Russia Alexander Tsyban.
On October 14, 2019 in the city of Al-Khobar an agreement on the establishment of the "International Alliance" in the field of ultrafast housing construction and the implementation of the building technologies from building blocks was signed. Parties to the contracts are the Group of AlSuwaiket Companies (Saudi Arabia) under the direction of Saudi billionaire and philanthropist Sheikh Mubarak A. AlSuwaiket and the Construction company "Vibor OBD" (Russia) - (www.vyborstroi.ru)
The created alliance has ambitious plans to take part in the construction of 850,000 residential buildings in the Kingdom and distribute this unique construction volume via block housing construction technologies not only in the Gulf countries, but also to other nations.
-Ends-
SOURCE Eurasian Economic Cooperation Organization
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
