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Sun 18 Jun 2017 02:33 PM

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Contracts worth $250bn still to be awarded in Saudi Arabia

Kingdom's pipeline of projects accounts for 39% of the GCC total.

Contracts worth $250bn still to be awarded in Saudi Arabia
Saudi Arabias pipeline of projects accounts for 39% of the GCC total.

Main construction contracts for over $250bn ($917bn) worth of projects have not been awarded in Saudi Arabia, according to a new report.

Middle East Economic Digest (Meed), in its Saudi Arabia 2017: Delivering Vision 2030 report, said the kingdom’s pipeline of unawarded projects accounts for 39 percent of the GCC total.

The sector where most contracts haven’t been awarded is energy ($82bn). Power, construction and transport sectors account for $225bn of unplaced contracts, comprising 89 percent of the total value of contracts at the pre-execution stage.

Overall, Saudi Arabia has awarded more than $370bn-worth of contracts across all sectors since 2010, with about $252bn-worth of projects in the tender or design phase, the report said.

 

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