Government’s public building programme proceeds apace despite global slowdown
The government of Saudi Arabia has handed out £10.5bn in construction contracts in the past six months.
In 2009, the Arab state launched a five-year spending plan averaging an annual £52bn, designed to enhance the infrastructure and oil facilities of the world’s top oil exporter.
The massive Saudi construction programme is also designed to counter the repercussions of the global financial crisis in what is still a little-diversified economy.
Of the construction contracts, according to arabianbusiness.com, £1.8bn was spent on roads, telecommunications and education facilities, £1bn on water and sewage projects, and a £1bn on town and village developments.