The US-Saudi Arabian Business Council (USSABC) has revealed that the value of contract awards in Saudi Arabia grew to $13 billion in the first quarter of 2019, a staggering 113% increase from $6.1 billion in the same period in 2018.
According to USSABC’s Contract Awards Index (CAI) report, the total value of contracts covers mega-projects in various sectors, with oil and gas, water, and transportation projects making up 67% of the total value, accounting for $8.7 billion.
The value of awarded contracts in Q1 represents approximately 48% of the total value of contracts awarded in 2018.