Saudi Arabia awards roads deals worth US$587mn

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Saudi Arabia awarded contracts worth US$587mn for road-building and is looking to sign more deals next month, reported the state news agency SPA.

 

Saudi Arabia, the world's biggest oil exporter, has embarked on a massive spending programme to upgrade and improve the Kingdom's infrastructure. The government will invest US$400bn in the next five years to 2013. Investment in the transport system is a key component of the governments development plans.

The transport ministry previously signed contracts for other projects worth up to US$2.4bn and is looking to sign six more projects worth US$155.4mn by the end of 2010. The government issued 3,184 contracts worth US$27.6bn for construction and education projects in the first half of this year, the finance ministry said.

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