Riyadh – Mubasher: Salini Impregilo on Thursday said that it has won a SAR 4.87 billion ($1.3 billion) contract from Saudi Arabia National Guard.

The contract entails building 6,000 villas, as well as providing urban planning and housing services in east of Riyadh, Arabian Business reported, citing Construction Week’s reports as saying.

The Italian civil infrastructure giant forecast that the projects will be completed over the coming five years.

Salini Impregilo will also carry out below- and above- ground water networks in the kingdom, in addition to sewage treatment plant, secondary routes, and a road with a 160 kilometres length.

"This project allows us to make use of a summary of what we [will] need in the future to meet the challenges of the infrastructure sector, [which are] urbanisation, transport and urban centre connection, and water management," Salini Impregilo’s CEO Pietro Salini said.

The MENA region is a key area for the firm’s investments, making up 23% of the company’s turnover last year, the CEO added.

Salini Impregilo's new contract will boost its footprint in the oil-rich nation, as the company involved in the construction of the 41.58km Line 3 of Riyadh Metro.

On the other hand, the Council of Saudi Chambers (CSC) has recently signed a cooperation deal with the Italian Export Credit Agency (SACE) to boost economic collaboration between the kingdom and the European country.

Italy is also keen on developing bilateral trade with the Kingdom to benefit from investment opportunities in the world's top oil exporter, Ambassador Luca Ferrari said.