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Saudi Arabia unveils $133bn projects at contractors' summit

Saudi government has presented 600 projects worth more than SR500 billion ($133 billion) at a major contractors' conference which concluded in Riyadh yesterday (February 27).

The two-day Future Projects Forum (FPF), which brought together hundreds of officials, project owners, investors and contractors from across the globe, was opened by Riyadh Governor Prince Faisal bin Bandar, said the organiser Saudi Contracting Authority (SCA).

The main focus of the event was to encourage foreign investment and also help raise the efficiency and competitiveness of contractors to meet the technical requirements of the building projects planned for Saudi Arabia, it added.

One of the G20 countries recording a GDP of $745 billion in 2018, Saudi Arabia is also considered to be the largest contracting market in the Middle East with a total yearly value of $100 billion.

SCA said the forum was held in line with the vision 2030 to create a platform to bring together investors, project owners and contractors to display and discuss the future projects in the contracting sector.

One of the largest forums of its kind in the Middle East, FPF covered the latest construction, development and opportunities, said the organisers.

During the two-day event, KiCE Construction Equipment, a concrete batching and mixing plants accessories maker in the Middle East, said it had inked a deal with Schneider Electric, a leading player in the digital transformation of energy management and industrial automation sector.

Headquartered in the Hasa region of Saudi Arabia, KiCE is a key manufacturer of bulk conveyor and silo’s components that enhance material flow performance and storing system.
  • Saudi Arabia
  • Government
  • 600 Projects
  • $133 Billion
  • Contractors Conference
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