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FINANCIAL NEWS
USD13.3bn projects in Saudi Arabia may be cancelled
18 Jan 2017
(MENAFN) At least USD13.3bn of government projects are in danger of being cancelled in KSA this year due to financial stress and a realignment of government priorities.
Meanwhile, the whole value of project awards for this year is forecast at USD27bn and could increase to USD32bn if the Makkah Metro project goes through this year.
Additionally, this would imply that the industry awarded USD20bn in deals in 2016, compared with USD35.5bn in 2015.
Accordingly, another major or semi-major government scheme will be singled out for award, expecting a reprioritizing across five major ministers in H1 of this year.
M
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