Body reveals $70.4bn worth of projects in Riyadhby CW Staff on Sep 17, 2012
The Riyadh region of Saudi Arabia is undergoing 2,980 projects worth a total of $70.4bn (SAR 264bn), according to a monitoring body at the High Commission on Riyadh Development (HCRD), Arab News reports.
The body added that the projects are spread throughout the region and its provinces, covering the utilities, education, health, transportation, economic, public services and housing sectors.
Further figures from a body called the Follow-up Program for Riyadh Region Projects (FPRRP), which was established by the HCRD, revealed that 347 projects now implemented in the public utilities sector in the Saudi capital have a cumulative value of $15.2bn (SAR 57bn). In addition, water supply, electricity, sanitation and flood control projects constitute 29% of the total cost of the region’s development schemes.
In the transport sector, the 577 ongoing projects are worth $6.4bn (SAR 24bn), including roads, railways and airport development, while the educational services sector has 804 projects worth $14.4bn (SAR 54bn). The number of projects in health services, worth $2.3bn (SAR 8.5bn), has increased to 127.
One of the reasons the FPRRP was established was to ensure the development of the region through the monitoring and follow-up of all public and private projects. Its remit also involves the targeting of any obstacles blocking the progress of regional development.
The program is designed to be one of the main mechanisms for managing development sectors across the region, coordinating between the implementing agencies and increasing transparency for decision-makers and stakeholders related to the projects.
The program also aims to provide instant information on all the projects in various sectors, and conducts analyses on sectors, clusters development centres, provinces and the implementing agencies.
- GCC 2015 construction contracts to be worth $194bn
- Saudi Arabia cancels $201m Spanish rail contract
- New racetrack in Dammam's centre gets green-light
- KSA undertaking $40bn of green building projects
- Qatar project opportunities worth $70bn
- Qatar ranked second best infrastructure market
- Officials say projects will ease Qatar traffic
- Contractors seek leniency for delayed projects
- Ashghal to launch 80 new projects in Qatar
- KSA unveils $148mn Khamis Mushayt projects