Saudi Contracts Jump 50% on Chemical and Power Projects
The country awarded construction contracts worth 126.7 billion riyals ($33.8 billion) in the first six months compared with 84.3 billion riyals a year earlier, NCB said today in an e- mailed report. Petrochemical and power projects comprised 67 billion riyals, or 53 percent, of the contracts, said the bank, the kingdom’s largest by assets.
“Although 2011 was considered to be a remarkable year in the construction sector, it appears that 2012 will continue this positive trend,” the Jeddah-based lender said.
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