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FINANCIAL NEWS
Saudi’s awarded contracts value hits USD22.63b in H1
01 Sep 2014
(MENAFN) Saudi Arabia recorded a major increase in the value of awarded contracts during the April-June period as it hit USD22.63 billion, Arab News reported.
The main sectors took the majority of the spending, as the power and oil and gas sectors accounted for almost 60 percent of the value of the given contracts.
The road sector came in third, with 9 percent of the value of awarded contracts during the cited period, followed by the other remaining sectors almost evenly in their percent. The total value of awarded contracts through the first half reached USD33.21 billion.
Meanwhile, the value of awarded in the second quarter of this year hit USD14.28 billion, up 60 percent compared to the same period last year, and the value of contracts in the first half were up 21 percent from last year, reaching USD27.37 billion.
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