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Saudi Arabia’s first electric vehicle brand, Ceer, has awarded a SAR 5 billion (US$1.3 billion) contract to Saudi company Modern Building Leaders to build a new factory.

All major segments of construction in the US saw increases in spending in August, although an ongoing shortage in skilled workers could put the brakes on growth.

Korea-based Samsung Construction and & Technology (C&T) said its engineering and construction division enjoyed a “stable” second quarter of 2023, with double-digit increases in revenue on profit on the previous year.

Chinese chip manufacturer TSMC plans to invest nearly T$90 billion (US$2.87 billion) in the construction an advanced packaging facility in northern Taiwan.

Taiwanese chipmaker TSMC said on Thursday it is sending more workers from Taiwan to the US state of Arizona to help build a massive $40 billion factory to ensure its “fast ramp up”.