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They covered construction and other sectors Saudi Arabia awarded 314 public projects worth around 267.8 billion Saudi riyals ($71.5 billion) in 2024, the highest annual project value after the Covid pandemic in 2020. Figures by the Saudi Contractors Authority (SCA), which groups most construction firms in the Gulf Kingdom, showed the awarded projects last year covered a wide variety of sectors, including construction, oil and gas, power, water, industry and infrastructure. SCA said in its December bulletin (the contractor) published on its website this week that the highest project value was in April, standing at SAR57.4 billion ($15.3 billion). January was second, with a value of SAR36.8 billion ($9.8 billion). Last month, the government awarded 11 projects with a combined value of about SAR10.5 billion ($2.8 billion), according to the report. It showed one project awarded last month would be completed in 2025 while two would be finished in 2026, six in 2027 and two in 2030. The largest project in December was awarded by the Saudi Power Procurement Company (SPPC) with a value of around SAR5.5 billion ($1.46 billion), the report said. The value of public projects awarded by the world’s largest oil exporter has recorded a sharp increase following the end of the Covid pandemic as business boomed towards the end of Vision 2030 and the Gulf Kingdom pursued a drive to attract capital. |
