ARCHIRODON to Build Bridge to Main Hub Island at Red Sea Project

The bridge will stretch a total of 1.2km across the Red Sea, with two small 36-meter sections at each end of the crossing. (SPA)
The bridge will stretch a total of 1.2km across the Red Sea, with two small 36-meter sections at each end of the crossing. (SPA)
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ARCHIRODON to Build Bridge to Main Hub Island at Red Sea Project

The bridge will stretch a total of 1.2km across the Red Sea, with two small 36-meter sections at each end of the crossing. (SPA)
The bridge will stretch a total of 1.2km across the Red Sea, with two small 36-meter sections at each end of the crossing. (SPA)

The Red Sea Development Company (TRSDC) has appointed ARCHIRODON to design and build a 1.2km iconic bridge, which is part of the 3.3km crossing to its main hub island, Shurayrah.

TRSDC CEO John Pagano said that ARCHIRODON, a leading EPC global Group, will provide engineering, procurement and construction support to complete the building of Shurayrah bridge.

The bridge will stretch a total of 1.2km across the Red Sea, with two small 36-meter sections at each end of the crossing to allow for movement of marine mammals.

He said Shurayrah Bridge will become one of the main access points for guests onto the island, and its completion will mark a major undertaking in the development of the destination.

Its construction is truly monumental as not only will the bridge be the very first connection to the islands, its construction will demonstrate our ability to accomplish huge feats of engineering whilst also protecting and enhancing the natural habitat, he added, according to a statement.

He stressed that the bridge design and construction methods meet TRSDC’s strict criteria for sustainable development, which includes strict controls on the prevention of any sediment movement from piling activities with multiple monitoring buoys strategically sited to alert any breakthrough from surface booms.

A precast yard for bridge sections will be established near the coast to minimize travel distances with concrete sourced from on-site batching plants. The contract follows major marine enabling works carried out by the company across the development last year, which have helped underpin the successful delivery of the project by providing a solid foundation to ensure the efficient movement of people, materials and equipment in and around the destination, while safeguarding the sensitive ecological environment.

ARCHIRODON Group CEO Dennis Karapiperis said the firm was proud of being part of this prestigious development for Shurayrah Bridge with the TRSDC.

The move will not only make this unique island destination accessible for visitors, but also have sustainable techniques embedded within every element of its design to ensure the delicate ecological environment is protected and even enhanced, he stressed.



Gold Edges Down as Markets Eye Fed's 2025 Monetary Policy Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Edges Down as Markets Eye Fed's 2025 Monetary Policy Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices edged lower as the dollar held firm on Wednesday, with investors awaiting a key US Federal Reserve decision expected to shape market sentiment and gold's trajectory by outlining the central bank's 2025 outlook.

Spot gold slipped 0.3% to $2,637.13 per ounce by 10:00 a.m. EST (1500 GMT). US gold futures were down 0.3% at $2,653.20.

The Fed's 2025 economic projections and decision are due at 2 p.m. EST (1900 GMT), followed by Fed chair Jerome Powell's press conference at 2:30 p.m. EST, Reuters reported.

"What markets will truly focus on is the tone set by Jerome Powell. A hawkish stance could drive Treasury yields higher and bolster the dollar, putting downward pressure on gold prices," said Ricardo Evangelista, senior analyst at ActivTrades.

"Conversely, a more cautious tone might provide some support for bullion."

While markets are pricing in a 99% probability of a 25 basis point rate cut during this meeting, the chances of another reduction in January stand at only 17%.

Non-yielding gold tends to do well in a low-interest-rate environment.

Traders are also watching out for key US GDP and inflation data due later this week that could further shape expectations around monetary policy.

"I do see the consolidation as a continuation pattern within the longer term uptrend in gold. I think that trend will re-exert itself in the first quarter of 2025," said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Grant highlighted that bullion remains underpinned by easing central bank policies, geopolitical tensions, sustained buying by central banks, and rising global political instability.

UBS echoed this sentiment in a note, predicting gold would "build on its gains in 2025." The bank emphasized that central banks are likely to continue accumulating gold as they diversify reserves, while heightened demand for hedges could drive inflows into gold-backed exchange-traded funds (ETFs).

Spot silver fell 1.1% at $30.19 per ounce, platinum slipped 1.3% to $926.90, while palladium declined 1.3% to $922.19.