Saudi Geological Survey signs contracts worth over $530m

RIYADH, Oct 19 (Arab News): The Saudi Geological Survey (SGS) on Sunday signed several contracts with international organisations and consultants to carry out projects related to the geological survey general programme.

It is one of the largest geological surveys in the world, with the budget for all its stages amounting to SR2 billion (over $530 million).

The signing ceremony was held under the auspices of Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and was attended by Investment Minister Khalid Al-Faleh, Transport Minister Saleh Al-Jasser, foreign envoys and representatives of the international firms awarded the contracts.

Alkhorayef said signing these contracts marks the beginning of the Kingdom's massive data collection efforts. "It is the first step toward making the mining sector the third pillar" of the Saudi industrial landscape, he said.

The minister said the programme will ensure gathering more reliable and accurate data about the Kingdom's mineral resources, which will help the relevant authorities tap into the vast mineral wealth and lay a solid foundation for a sustainable national economy.

The programme takes a three-pronged approach that includes advanced atmospheric geophysical surveys, multicomponent geochemical surveys and production of detailed geological maps.

Providing details about the contract in a statement, the SGS said one of the contracts includes a technical partnership deal with a consortium including International Geoscience Services Co. and Geological Survey of Finland.