Saudi Arabia awards US$149m construction contracts
Saudi Arabia, the largest Arab economy, awarded contracts worth more than SAR559m (US$149m) to develop water and sanitation projects, state-run Saudi Press Agency, or SPA, reports Saturday, citing the water and electricity minister.
The contracts include studying water resources in the Empty Quarter, in the southern desert region, and building water collection centres, SPA quoted Abdullah Al Hussayen as saying. Saudi Arabia, which has filled its coffers with surplus income from oil exports over recent years, has drawn on its reserves to fund record budgets and keep its US$400bn, five-year infrastructure development programme on track. The top oil exporter last month unveiled a budget projecting a SAR40bn deficit as the government continues its public spending drive in its pursuit of economic growth.
Published under Cement News
