Wet Infrastructure Summit
 
Tuesday, April 24, 2018
Directory Directory Subscribe
Login
 

Saudi projects worth $250 billion in the pipeline

 
 

Please, enter data

Please, enter data

Arab News, 19 June 2017

Saudi Arabia has the biggest slice of unawarded projects worth $250 billion across the entire Gulf Cooperation Council (GCC), according to a report released by MEED.

The projects that are yet to have their main construction contracts awarded, account for 39 percent of the GCC market. And the Kingdom hopes the projects will help provide a much-needed jumpstart to the economy.

The Kingdom’s energy sector accounts for 33 percent of the total, worth $82 billion, while the construction sector claims the second-biggest segment at 29 percent, with the transport sector third at 27 percent, according to information from the database MEED Projects.

After a year of uncertainty in 2016 as Riyadh formulated its response to lower oil prices, the 225-page Saudi Arabia 2017: Delivering Vision 2030 report said that 2017 will be the year the Kingdom starts to deliver on its promises.

With the blueprint drawn up for economic transformation in its Vision 2030 document, Riyadh is now setting about implementing the reforms to reposition the country, so it can contend in the low oil price era.

According to the report, one of the first major steps has been the establishment of the National Center for Privatization to plan and oversee the procurement of public-private partnerships (PPPs) and other private sector initiatives.

Four PPPs have already been awarded this year to develop airport projects at Yanbu, Taif, Qassim and Hail. Saudi Arabia wants to privatize the operations of all airports by 2020. Advisers have also been enlisted to develop plans to engage private investors in other sectors such as health care.

The Ministry of Health is currently seeking advisers to help it draft a framework to build about 3,000 mega and primary medical centers with the participation of the private sector.

Richard Thompson, MEED editorial director, said the report confirmed that despite the challenges over the past two years, caused by falling oil prices “Saudi Arabia continues to be the biggest and most important market in the region.”

He added: “Anybody serious about growing their business in the region needs to understand the fundamental changes taking place in the Kingdom… In particular, it is vital to understand how Riyadh will implement its plans to increase private sector participation in the implementation of its strategic plans.”

In early February, the Ministry of Energy, Industry and Mineral Resources announced it was establishing the Renewable Energy Project Development Office (Repdo) to head the National Renewable Energy Program (NREP). The same month, Repdo issued prequalification documents for the first 700 megawatts (MW) of solar schemes.
Arab News
19 June
 

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Transport: EIB to invest 800 million euro in Lebanon
ANSAmed, 16 April 2018

Lebanon will receive up to 800 million euro of support to public investments by 2020. So said President of the European Investment Bank (EIB), Werner Hoyer.
...

Read full story
Transport: EIB to invest 800 million euro in Lebanon
Lebanon to host 2019 Arab Economic and Social Development summit
The Daily Star, 15 April 2018

Lebanon will host the 2019 Arab Economic and Social Development Summit, the state-run National News Agency reported Sunday.

The AESD was formed as ...

Read full story
Lebanon to host 2019 Arab Economic and Social Development summit
French trade delegation to visit Egypt April 22
Egypt Today, 15 April 2018

A delegation grouping a number of French companies operating in the domains of agriculture, health, environment, gas, and petroleum will visit Egypt on April ...

Read full story
French trade delegation to visit Egypt April 22
Back to Home Page 2930 --- 0 <><><> 672.33333333333.....exvideo=0....eximage=0
P 0
BR 23

Wet Infrastructure Summit

 
The Annual Future Drainage & Stormwater Networks Abu Dhabi
2 - May 2018
Wet Infrastructure Summit
2 - May 2018
Future Civil Defense
7 - May 2018
Future Projects Qatar 2018 Conference
7 - May 2018
Entertainment KSA
3 - September 2018
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Future Projects Qatar

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Beirut Boat
Energy Lebanon
Project Lebanon
Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar Hospital Build
Qatar School Build
Qatar Sports Infrastructure
Qatar StoneTech
Qatar Transport & Logistics
Iraq
Iraq Agrofood Baghdad
Project Iraq Baghdad
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2018 - © All rights reserved