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FinancialNews


  • 05-09-10

    Saudi firms award $6.5b construction deals in H1

    (MENAFN) Saudi Arabian firms have awarded $6.5 billion worth of construction contracts in the second quarter, 175 percent more than the value of awards in the first quarter, Reuters reported The Saudi Gazette said that the government and private institutions had helped towards the increase, adding that the trend was likely to increase throughout the rest of the year. Overall, Saudi Arabia�s construction sector is forecast to grow by 6.4 percent this year, giving it an overall 10.4 percent share in the gross domestic product (GDP). Growth in the segment will also be greater than that in the non-hydrocarbon sector, which is expected to grow by 4.4 percent this year.

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