Initial investments worth millions of dollars
Indonesian construction firm PT Wijaya Karya has signed a strategic partnership agreement which will pump millions of dollars in investments into projects in Saudi Arabia, it has been announced.
The deal with Adil Makki Contracting Corporation (AMCO), will see three projects worth $8 million implemented in Jeddah in 2016, said Abdul Munief Makki, CEO of AMCO, according to the Saudi Gazette.
These include the construction of an administrative building, commercial centre and a villa duplex, he added.
“The entry of the Indonesian giant in the construction and contracting sector and such international companies is expected to contribute to the revitalization of this sector and bring in new expertise,” Makki is reported as saying.
He added that the contract spans ten years from the date of signing, and is subject to renewal. The agreement is expected to extend to business in both countries.