Qatar has topped the list of project awards in the GCC to date in 2021, according to Venture Onsite.
Qatar has awarded contracts worth $21.54 billion so far this year. Out of these, the Qatargas – LNG processing train project alone accounts for $13 billion.
This makes Qatar an exception among GCC countries, as the overall number of projects have fallen in the region, according to UAE-based project data provider Venture Onsite.
Actual contract awards for other GCC countries till 6 June 2021 stood at $16.61 billion in KSA, $6.35 billion in the UAE, $3.13 billion in Kuwait, $466 million in Oman and $923 million in Bahrain, the project data provider revealed in a webinar hosted last week.
Venture Onsite has forecasted contract awards worth $34.5 billion in Qatar for 2021, $35.9 billion in KSA, $25.41 billion in the UAE, $9.19 billion in Kuwait, $3.32 billion in Oman and $2.91 billion in Bahrain.
The oil and gas segment topped the awards list at $23.4 billion followed by buildings at $14.93 billion, $5.9 billion in the infrastructure segment, $3.6 billion in the power and water sector and $1.2 billion in the industrial sector till 6 June 2021.
Qatar Petroleum (QP), Royal Commission for the Riyadh City (RCRC), Kuwait Oil Company (KOC), Saudi Aramco, Saudi Water Partnership Company (SWPC) were the top clients who awarded projects to contractors.
RCRC, The Red Sea Development Company in KSA, Public Investment Fund of KSA, the UAE-based Aldar Properties and Diriyah Gate Development Authority in KSA were the top clients who announced building projects.
Al Bawani Company KSA, Fibrex Construction Group UAE, Intermass Engineering Contracting Co. UAE, Freyssinet Limited, KSA, Arabian Construction Company (ACC), UAE were the top contractors who won building projects.
(Reporting by Sowmya Sundar, editing by Seban Scaria)
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