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FINANCIAL NEWS
USD87m Saudi water projects approved
05 Jun 2013
(MENAFN) Saudi water and electricity minister, Abdullah Al-Hussayen, stated that the kingdom gave approval to 32 new water and sewerage projects worth USD87 million, reported Arabian Business.
Al-Hussayen also said that the contracts covered building pumping stations, sewerage networks, reservoirs, and water treatment plants in the Gulf country.
The minister added that the kingdom expects a budget surplus in 2013 as well as a drawing down of foreign assets, both of which will financially support its expenditure plans.
It is worth noting that Saudi Arabia, the world’s biggest oil producer and the Arab world’s largest economy has infrastructure expansion plans of over USD500 billion.
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