Bechtel Gets Five-Year Extension on Jubail Project
June 8, 2016
The Saudi government has awarded Bechtel a five-year contract extension for project management services at the giant Jubail and Ras Al Khair industrial cities, the company announced on June 6. A company spokeswoman did not disclose the amount of the new award. Bechtel says the 1,000-sq- kilometer Jubail site is recognized as the world’s largest single industrial development project and produces 7% of the global petrochemical supply. The firm has been involved with its design and construction since its origin in the mid-1970s. Bechtel says work under the new contract includes a new 18,000-student greenfield university, roads, bridges, medical centers, and power, water and waste facilities. According to a Saudi official in a 2013 online industry publication, the Saudis have invested more than $240 billion to develop Jubail and its sister complex Yanbu. Their production makes up 12% of the country’s GDP.