Riyadh kicks off phase 3 of its road network overhaul

Riyadh’s road network is getting a boost: The Royal Commission for Riyadh City launched six projects worth over SAR 8 bn in the third phase of the Riyadh Main and Ring Road Axes ‎Development Program, it said in a statement. The projects are expected to be delivered in three to four years.

The projects cover the Jeddah Road, which will see the development of 14 bridges and five main lanes, as well as multiple developments Taif Road, Thumamah Road , the northern section of both of King Abdulaziz Road, and Othman bin Affan Road. Phase two is also getting a polish, with the commission aiming to enhance traffic capacity by 40-60% through engineering enhancements across eight congested locations.

BACKGROUND- The first phase was launched in August 2024 and the second in February2025 — with a total value of SAR 21 bn across 12 projects — as part of the Ring Roads Axes Development Program, which kicked off in 2019. The program includes upgrades to some 500 km of roads in Riyadh.

Maaden, Hancock fast-track Makkah gold belt with JV

The Saudi Arabian Mining Company (Maaden) and Australia-based Midana Exploration launched a JV with an initial capital of USD 5 mn to explore Makkah’s Nabitah Al Duwaihi gold belt, according to a disclosure to Tadawul. Maaden owns a majority stake of 50.1% in the new entity and Hancock the remaining 49.9%.

BACKGROUND- The Industry and Mineral Resources Ministry awarded nine exploration licenses for 25 sites in the Nabitah Al Duwaihi belt in September. The companies and consortia awarded the licenses pledged to spend a combined SAR 156 mn on exploration at the sites.

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