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Sat 19 Jun 2010 05:49 PM

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Saudi awards local firms $267m infra deals

38 contracts include projects in Mecca, Medina, Riyadh and the Eastern province.

Saudi awards local firms $267m infra deals
(Getty Images)

Saudi Arabia has awarded local firms contracts worth more than 1 billion riyals ($266.7 million) for infrastructure projects, the state news agency SPA said on Saturday.

The 38 contracts include road construction in the city of Mecca, bridge and tunnel works in Medina, and other projects in the capital Riyadh and the Eastern province, SPA said.

Saudi Arabia is spending around $400bn in the five years to 2013 on infrastructure projects to boost the economy and create jobs for Saudi Arabia's growing population of over 25 million. ($1=3.750 Saudi riyals) (Reuters)

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