HYUNDAI Heavy Industries co. ltd

Saudi contracts totalled to SR270bn in 2011, says NCB

According to Saudi Arabia’s National Commercial Bank (NCB), the total value of awarded contracts in 2011rose to SR270bn, exceeding the previous high of SR207bn that was reached in 2009, Arab News has reported. The increase was mainly driven by the amount of mega-projects that were awarded during the second half of last year, NCB said. In the second half of 2011 alone, the value of awarded contracts reached an impressive SR188.2bn, which was higher than the total value of awarded contracts during all of 2010, the lender said.

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