There were similar reports during Qatar's construction of facilities for the 2022 World Cup. Digging into the sources of the numbers in those reports though showed that they were (1) for the entire population of foreign workers in Qatar rather than just those working on the World Cup projects, and (2) counted all deaths rather than just work related deaths.
The death rate for those foreign workers turned out to less than the death rate for 15-34 year old males in the US. I compared to 15-34 year old males because I figured that foreign workers in Qatar, especially those working on World Cup construction, would tend to be male and younger.
I'm going to take the number of foreign worked in Saudi Arabia as 6 million. That's lower than the number you cited from Wikipedia, but that number is a few year old and has been going down. 6 million seems closer to the current number. I'd rather be low than high because being low on the population size gives a higher death rate. Too high is better than too low when you are trying to check if a death rate is worrisome.
If that 3000 per year turns out to be among all foreign workers and for all causes, like the Qatar numbers, that would give a death rate of 50 per 100k per year.
That would be pretty low. For comparison US death rates for males 15-24 and 25-34 are 127 and 251 respectively, and for females in those age groups they are 49 and 109.
That's low enough to be hard to believe, so a more detailed look into the data is called for. I haven't found any more easily Googled data, so what just follows is speculation.
One possibility is that unlike the Qatar numbers the Saudi numbers actually are only for workers actually working on Saudi Vision 3030 and/or only includes work related deaths. That would lower the denominator and raise the calculated death rate.
Another possibility is that the numbers are like the Qatar numbers and workers there really do die at a lower rate than do young people in the US. Offhand I can think of a couple things that might contribute to this:
1. Many of the jobs for migrants are known to be physically hard. Maybe it is mostly only people who are in very good health who take those jobs.
2. Saudi Arabia greatly restricts alcohol and enforces this with very harsh penalties. Same with drugs. A significant chuck of the US young person deaths are alcohol or drug related and those kind of deaths should be almost entirely absent among the foreign workers in Saudi Arabia.