Mubasher: Saudi Arabia’s Economic Cities Authority (ECA) has signed a memorandum of understanding (MoU) with the UAE’s Abu Dhabi Future Energy Company (Masdar).
The contract will provide mutual collaboration in services and projects in Saudi economic cities, Saudi Gazette reported, citing the ECA.
The two parties are planning to cooperate in fields such as modern infrastructure design for smart cities, developing services in economic cities, attracting large investments, and planning future sustainable cities.
This collaboration, which was signed by ECA secretary general Mohanud A. Helal and Masdar CEO Mohamed J. Al Ramahi, is expected to provide job opportunities for Saudi youth.
The deal is considered a part of the kingdom’s efforts to achieve its Saudi Vision 2030, ECA’s Helal said.
The ECA and Masdar “will utilise their relations with relevant authorities to achieve the desired objectives, which include consulting services, mutual development, and knowledge exchange in any sustainable development field,” Saudi Gazette said.
In addition to the abovementioned fields, the MoU will include several others such as urban development, transportation, economic development, smart cities and renewable energy,” the newspaper added.
