Saudi Arabia is investing about SR1,496 billion ($400 billion) to upgrade its infrastructure over a five-year period until 2013, according to research reports.

The region is giving top most priority to infrastructure development across industries such as power, transportation, education, retail, real estate and oil and gas among others, said the organisers of the first Saudi Arabian Infrastructure Congress 2010.

The Congress will provide the requisite platform for delegates across the region to interact with key government developers and clinch deals. It is scheduled to be held from October 23 to 25, at the Four Seasons Hotel in Riyadh.

There was a slew of project announcements in 2009 and many of these projects are now under way in the kingdom. Some of the mega projects are the Riyadh Power Plant; expansion of the Rabigh Power Plant; the Ras Al Zour water and power plant; the Haramain High Speed Railway linking Jeddah with Mecca and Medina and the expansion of King Khaled International Airport and Prince Mohammed Bin Abdul Aziz International Airport in Madinah.

The kingdom's construction industry alone has been forecasted to grow by 5.89 per cent year-on-year in 2010 to reach a nominal value of SR82.64 billion ($22.07 billion). The Red Sea Gateway Terminal at Jeddah Islamic Port will witness an investment of SR1,908 million ($510 million) and the much-awaited privately-owned airport, which will replace the Prince Mohammad Bin Abdul Aziz Airport is estimated to cost SR7-8 billion ($1.87-2.13 billion).

The Congress will witness an attendance of around 40 per cent of delegates from Saudi and the GCC region. Senior government organisations such as the Ministry of Water and Electricity, Saudi Electricity Company and Saudi Railway Company among others will provide critical industry insights at the event which will also feature essential updates on high profile projects.-TradeArabia News Service