Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Saudi Contracts Jump 50% on Chemical and Power Projects

Don't Miss Out —
Follow us on:

Aug. 15 (Bloomberg) -- The number of awarded contracts in Saudi Arabia jumped by 50 percent in the first half of 2012, led by petrochemical and power projects, according to National Commercial Bank.

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.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.