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Bahrain awarded 1.6 billion worth of government contracts in the first quarter of 2021, a 23 percent growth when compared to the year-earlier period.
The growth was partly driven by projects linked to Bahrain’s $32 billion infrastructure spend, according to new data from the Bahrain’s Tender Board, the country’s government procurement regulator.
This includes such as the multi-billion-dollar refinery modernisation project, which is 70 percent complete and is due to finish by the end of 2022.
The GCC country has faced the twin shocks of the coronavirus pandemic and lower oil prices. The International Monetary Fund has projected a growth of 3.3 percent this year for Bahrain after a 5.4 percent contraction in 2020.
The tender Board said that in terms of value, the oil was the largest sector with $767 million worth of contracts in Q1 2021, followed by the aviation sector, with contracts valued at $382 million.
The construction and engineering consultancy sector has generated $194 million worth of contracts so far this year; with the materials & equipment receiving contracts worth $119 million.
Top purchasing authorities, contracts values
Tatweer Petroleum - $509 million worth of contracts
Gulf Air - $369 million
Bapco - $257 million
Ministry of Works, Municipalities Affairs - $224 million
Ministry of Health - $75.6 million
(Writing by Brinda Darasha; editing by Daniel Luiz)
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© ZAWYA 2021
