The Kingdom of Bahrain’s infrastructure spending is ramping up amid the challenges of the pandemic, media reports said. The reports are produced by the country’s government procurement regulator, Tender board.
It is reported that the Kingdom awarded 1,022 tenders worth $2.7 billion in the first nine months of the year. Furthermore, the oil segment acquired the majority of shares by securing 134 tenders worth $733.8 million.
The construction and engineering industry secured 162 tenders worth $704.8 million. The aviation sector secured contracts worth $471.5 million, followed by the construction and engineering sector securing contracts worth $501.3m million and the services sector secured contracts worth $256.1million.
Tender Board chairman Shaikh Nayef bin Khalid Al Khalifa, told the media, “Despite the ongoing global economic challenges, the first nine months of 2020 have seen Bahrain award more than 1,000 contracts valued at well over $2 billion to businesses. This robust performance is indicative of the government’s commitment and ability to remain open for business even in times of crisis. Of particular note is the consistently high value of contracts in the kingdom’s thriving construction and engineering sector, a testament to the rich opportunity on offer owing to our extensive, multi-billion-dollar pipeline of projects there.”
Tatweer Petroleum ranked first for the highest total value of tenders issued, worth a combined $711.7 million. Gulf Air awarded $488 million worth of tenders.
The Kingdom is focusing on the region’s development amid the pandemic and is trying hard to recover from the effects of the pandemic as many global economies are still scrambling to recover.