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FINANCIAL NEWS
Saudi to award USD55b in contracts in 2014
07 Sep 2014
(MENAFN) Saudi Arabia is expected to remain the Middle East’s largest projects market as the Kingdom focuses on job creation and the diversification of its economy and due to USD55 billion the Kingdom is expected to award in contracts, Saudi Gazette reported.
Of the USD134 billion worth of contracts awarded in the GCC last year, about half, USD65 billion, were placed in Saudi Arabia.
As of this August, the top industries by value of contracts under execution include transport with USD66.7 worth of projects, followed by construction with USD64.2 billion and power with USD39.6 billion.
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