(Yicai) July 12 -- A consortium set up by China State Construction Engineering Corporation and a Saudi Arabian partner has secured an engineering, procurement, and construction contract for King Salman Knowledge Complex in the Middle Eastern country worth USD2.1 billion.

The consortium, established with major construction firm El Seif Engineering Contracting, inked the EPC contract with the owner of the project on July 10 at a grand signing ceremony, CSCEC, the world's largest contractor of international engineering projects, announced late yesterday. The complex is located in Diriyah, just west of Riyadh, it added.

The project includes the construction of a university, library, and culture square in the name of King Salman, as well as a Capella Hotel and the Saudi Royal Family's museum, and the project’s overall floor area will reach about 340,000 square meters, the Beijing-based company noted.

The complex is a significant investment and construction project under Saudi Arabia's "Vision 2030," aiming to enhance Riyadh's education, culture, and tourism, CSCEC pointed out, without disclosing further details such as the distribution of benefits within the consortium and construction schedule.

The latest deal marks another large-sized public construction project secured by CSCEC after it won a bid for Saudi Arabia's esports arena project last year, according to the company.

CSCEC's house construction and engineering business revenue was CNY1.38 trillion (USD190 billion) last year, accounting for about 61 percent of its total, its annual earning report showed. Income from overseas markets was around CNY115.8 billion (USD16 billion), or 5.1 percent of the total.

Shares of CSCEC [SHA: 601668] rose 1.1 percent to CNY5.41 (74 US Cents) apiece as of 1.20 p.m. in Shanghai today, after jumping by as much as 2.1 percent in the morning trading session.

Editor: Martin Kadiev