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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2023-06-06 C$ 33.51
Market Cap C$ 5,882,822,985
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SNC-Lavalin wins Saudi Arabian project mgmt contract

2023-06-07 09:25 ET - News Release

Mr. Ian Edwards reports

SNC-LAVALIN AWARDED PROGRAM MANAGEMENT CONSULTANCY SERVICES CONTRACT FOR HISTORIC JEDDAH IN SAUDI ARABIA

SNC-Lavalin Group Inc. has been awarded a project management consultancy (PMC) services contract by the Ministry of Culture in Saudi Arabia, to support the development of Historic Jeddah, which is a UNESCO World Heritage site. The Historic Jeddah development program aims to revitalize the living space in the city by attracting new businesses and cultural projects, based on a modern vision of urban planning and natural conservation harmonized with the people's needs.

The Historic Jeddah area, known locally as Al-Balad (the town), is situated on the eastern shore of the Red Sea and was established in the seventh century AD as a major port for Indian Ocean trade routes, channelling goods from Jeddah to the holy city of Mecca. The project is set to create an integrated environment in Historic Jeddah that has multiple natural components, including five kilometres of developed waterfronts, green spaces and open gardens covering 15 per cent of the total project area of 2.5 square kilometres.

As part of the two-year contract, SNC-Lavalin will provide PMC services across the Historic Jeddah development program, including project and cost consultancy services for site-wide utilities, design management, program set-up, and governance processes and procedures. In addition, SNC-Lavalin will oversee the co-ordination with program stakeholders, from real estate development to infrastructure, public realm and landscape, to ensure the historic and non-historic building protection measures are met. These services will be executed throughout the masterplanning, design, tender and construction stages.

"Engineering a better future for our planet and its people is our North Star for driving long-term impact in communities where we operate," said Ian L. Edwards, president and chief executive officer, SNC-Lavalin. "The rehabilitation of Historic Jeddah is a significant project that will showcase the kingdom's authentic cultural heritage and support its socio-economic development agenda by providing great opportunities for residents, visitors and entrepreneurs. We are proud to work with the Ministry of Culture on this world heritage landmark and be a part of delivering a lasting legacy for future generations in Saudi Arabia."

Historic Jeddah is expected to become an incubator for Saudi entrepreneurs and artists where they can meet within a creative community that combines national heritage with nature and contemporary architectural designs. The area has more than 600 historic buildings, 36 historical mosques and five major historical markets. It also holds ancient corridors, squares and sites of important historical significance. The project work will extend for the next 15 years, during which the Historic Jeddah area will be developed according to multiple tracks, including infrastructure and services, developing the natural and environmental field, improving the quality of life, and enhancing urban aspects.

"The Kingdom of Saudi Arabia has a rich culture shaped by the diversity of its people and built environment. The Historic Jeddah development program will play a key role in supporting Saudi Arabia's Vision 2030 goals of improving the quality of life within the city's historical area and driving cultural tourism," said Philip Hoare, president, engineering services, United King and Europe, Middle East, India, and Canada, SNC-Lavalin. "By combining our global expertise with local knowledge, we can drive efficiency and value throughout the project, adopting a fully integrated program and project management approach underpinned by digital solutions and net-zero best practices."

In addition to Historic Jeddah, the SNC-Lavalin Group, including Atkins and Faithful+Gould, has supported restoration projects in two of Saudi Arabia's most significant UNESCO World Heritage sites. The group is the lead masterplanning consultant for Diriyah, an 11-square-kilometre mixed-use historic, cultural and lifestyle destination created in a Najdi architectural style that showcases the kingdom's authentic heritage. Over the past three years, SNC-Lavalin has been working with the Royal Commission for AlUla to deliver a sustainable transformation of AlUla region as a leading global cultural and natural heritage destination. This includes cost management, program and project management, advisory services, masterplanning, and construction supervision.

About SNC-Lavalin Group Inc.

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for the planet and its people. The company creates sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. SNC-Lavalin deploys global capabilities locally to its clients and delivers unique end-to-end services across the whole life cycle of an asset, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning, and capital -- and delivered to clients in key strategic sectors such as engineering services, nuclear, operations and maintenance, and capital.

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