Saudi Aramco has met with local and international contractors this week to discuss opportunities presented by the 144 projects planned for the next five years. According to a latest report by Saudi Aramco's website, eight of them are mega projects along with 80 other small- and medium-sized projects in the Kingdom of Saudi Arabia. The contractors from major national and international companies held discussions on the prospects for Saudi Aramco's projects up to 2014, including the challenges and the strategies needed to implement these projects. As the price of raw materials such as steel and cement have fallen, the meeting also highlighted how Saudi Aramco and its contractors can take advantage of lower costs and the opportunities associated with current market conditions. Majid Al-Mugla, ED of Project Management at Saudi Aramco stressed the importance to chart a road map with the contractors to achieve the company's targets amid the challenges posed by global economic conditions. In Jubail, meanwhile, Prince Saud Bin Abdullah Bin Thenian, the President of the Royal Commission for Jubail and Yanbu, has recently signed two contracts worth SR 283 million. The first contract which amounts to SR201 million is concerned with design and setting up a power station in Jubail Industrial City. The contract will be implemented within two-and-a-half year. The second contract which amounts to SR 82 million is for landscaping and preparation of a site as part of Al-Matrifiya neighborhood spread over an area of 242 hectares. The period of this contract is two years. Separately, the National Shipping Co. of Saudi Arabia is adding a call to the Port of Charleston to its service between North America and the Middle East, the online report Tueday in the Journal of Commerce said.
