Saudi Arabia will award more than 25 new projects this month and nearly half of them cover infrastructure, housing and industry, according to a local report.

The Gulf Kingdom, which has been locked in a massive construction drive within its Vision 2030, awarded contracts worth nearly 6.5 billion Saudi riyals ($1.7 billion) in January, the Saudi Contractors’ Authority (SCA) said in its report.

“Over 25 projects are expected to be awarded in the Kingdom this month...nearly 50 percent of them involve housing, infrastructure and industry,” SCA said in the report, which was published this week in its online Muqawil (contractor) bulletin.

Most of the projects this month would be awarded by the Saudi Electricity Company, the National Housing Company, the Public Investment Fund (PIF) and NEOM, it said.

The report showed construction accounted for more than half the value of projects awarded in January, standing at around SAR3.7 billion ($1 billion).

Water and energy came second in value, which stood at SAR1.45 billion ($286 million), followed by industry with a value of SAR1.36 billion ($362 million).

According to the report, the capital Riyadh had the lion’s share of the January projects, with a value of around SAR4.8 billion ($1.28 billion).

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com) 

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