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FinancialNews


  • 21-07-10

    Saudi government awards contracts worth $16b

    (MENAFN) The Saudi government said that it has handed out $16 billion in construction deals in the past six months as the top oil exporter continues the infrastructure plan, SPA reported. The government launched in 2009 a five-year spending plan averaging an annual $80 billion to mainly develop infrastructure and its oil facilities and counter the repercussions of the global crisis on the little-diversified economy. Of construction contracts, $2.9 billion was spent on roads and telecommunications, the finance ministry said in a press statement.

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