Saudi’s Red Sea mega project set to award $4bln in contracts by end of 2020 – Saudi Arabia The Red Sea Development Company (TRSDC), the developer behind Saudi Arabia’s flagship The Red Sea Project, is set to award a total of nearly SAR 15 billion ($4 billion) in contracts by the end of 2020. Saudi Arabia plans to develop resorts on 50 islands off the Red Sea coast, offering a nature reserve, coral reef diving and heritage sites. Red Sea Development Co, backed by the kingdom’s Public Investment Fund (PIF), plans to build the first phase by 2022. (LINK). Saudi’s Red Sea mega project set to award $4bln in contracts by end of 2020 – Saudi ArabiaHIWI042020-11-03T20:50:07+01:00