Saudi awarded contracts’ value hits USD58.85b in 2014

08 Mar 2015

(MENAFN) Saudi awarded contracts’ value reached USD58.85 billion in 2014, after a surge witnessed in the fourth quarter, according to a report by the National Commercial Bank (NCB), Arab News reported.

The main sectors that contributed to the sum were oil & gas with USD12.79 billion, power with USD8.79 billion, transportation with USD5.33 billion, healthcare with USD3.99 billion, and urban development with USD3.99 billion.

The USD58.85b sum of 2014 marks the strength of the construction industry. “Our projections for capital expenditures during 2015 are that it will reach USD63.70 billion, which is 29 percent higher than the Ministry of Finance’s projections,” NCB said in a statement.

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