Ashoka Buildcon Limited for Contracting has announced that it has successfully secured a major construction contract in the Kingdom of Saudi Arabia through a Joint Venture with BEC Arabia Contracting Co. The Joint Venture had submitted its bid to Diriyah Company for the project titled “Main Construction Works of Diriyah II – Delivery Partner for One Hotel.”

Diriyah Company, the awarding entity, is wholly owned by the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia, a state-owned sovereign wealth fund that plays a pivotal role in driving strategic domestic and international investments aligned with Vision 2030.

Following the submission, the Joint Venture has now received the official Letter of Acceptance for the project. The accepted bid value stands at SAR 717,086,344.22 (Seven Hundred Seventeen Million, Eighty-Six Thousand, Three Hundred Forty-Four Saudi Riyals and Twenty-Two Halalas), excluding VAT. Ashoka Buildcon Limited holds a 49% stake in the Joint Venture as a partner.

BEC Arabia Contracting Co., the JV partner, is a privately held construction and engineering firm recognized for delivering large-scale infrastructure, civil works, electromechanical services, landscaping, and turnkey engineering solutions across the region.

The project is scheduled for completion within a period of twenty-seven (27) months from the effective date, marking a significant milestone in Ashoka Buildcon’s regional expansion in Saudi Arabia.