The Ministry of Water and Electricity has approved SR 3.6 billion for the implementation of different development projects in the Riyadh region, according to local media sources. The projects include design and implementation of water and sewage projects in the region at a total cost of SR 300 million, Dharma, Muzahmiyya and Quwiayyah Provinces at […]
Rising oil and gas prices combined with increasing domestic power requirements are prompting governments across the GCC to increase investments in the power and water sector, as well as secure alternative sources of energy. Installed generating capacity in the GCC is forecasted to reach 170,000MW by 2019, according to the latest data from MEED Insight. […]
It used to be at least a few years ago that one could avoid the traffic and congestion on the streets, in malls, supermarkets and other consumer outlets by simply going to places during the day instead of at night. However, Jeddah residents say this has all changed with a noticeable increase in the city’s […]
Saudi Arabia is able to maintain its current level of government spending in the medium term and beyond, Finance Minister Ibrahim Al-Assaf said yesterday. Asked whether strong growth in government spending was sustainable, Al-Assaf told reporters: “We have the … ability to continue this scale of spending. “We have the reserves, as well as we […]
The 2013 national budget has allocated SR 11 billion for 223 new road projects across the Kingdom, said Transport Minister Jabara Al-Seraisry yesterday. “The total length of roads under the new projects will be 3,708 km,” he said, adding that the ministry would conduct studies and make designs for 1,523 km roads during this year. […]
More than 12,400 housing units will be constructed in different parts of the Kingdom shortly as the Real Estate Development Fund has sanctioned new loans worth SR5 billion. Muhammad Al-Abdani, director general of the fund said the total value of loans approved for building 12,472 homes in different cities and towns would reach SR5.19 billion. […]
Qatif municipality awarded contracts worth SR338 million for a series of service, municipal and development projects in Qatif governorate during 1433H. The projects included construction of a new fish market at the cost of SR40 million, development and completion of Tarout channel (SR7.85 million) and beautification of coastal areas (SR32.13 million), the Saudi Press Agency reported, quoting […]
Saudi Arabia, which recently unveiled an expansionary budget for 2013 with public spending of USD219-billion is stepping on the gas to meet rising infrastructure needs. “Budgeted capital spending is 28% higher than in 2012, though the government has struggled to achieve its capital spending targets in recent years,” said Fitch ratings agency in a note. “Education […]
Saudi ports have witnessed a boom in expansion projects, Al-Eqtisadiah newspaper reported. The volume of projects in both sea and land ports increased to SR 4 billion, it said. According to official data from the Saudi Ports Authority , its revenues increased during the fiscal year of 2012 to SR 3,282 million, a 10.6 percent increase — […]
JEDDAH: Custodian of the Two Holy Mosques King Abdullah has ordered the construction of two medical cities in Riyadh and Jeddah under the Ministry of Interior, Interior Minister Prince Muhammad bin Naif announced yesterday. “King Abdullah’s gesture reflects his care for the security officers and their families,” the minister said, adding that the two medical […]