Saudi construction projects 'top $1 trillion'
Riyadh, March 8, 2012
Saudi Arabia, the largest construction market in the Middle East and North African (Mena) region, has over 1,000 projects worth over $1.102 trillion under way for 2012, a report from CPH World Media, was quoted as saying.
The report by the business research and intelligence firm shows that the growth is sustained by the Saudi government’s continuous efforts to liberalise the economy, said a statement from Rubber World Industries.
“The Middle East and North Africa region’s construction industry is moving on the fast track in terms of new projects and the resumption of projects that were stalled by the recent economic downturn,” said Rizwan Shaikhani, managing Director, RWI.
“We are very eager to position ourselves as a major provider of world class rubber based building materials for these projects. In fact, our coming participation at ‘The Big 5 Saudi’ will see the launch of latest additions to our trading products portfolio,” he said.
‘The Big 5 Saudi,’ a major construction industry event, will be held from March 10 to March 13 at the Jeddah Centre for Forums and Events. During the event, RWI will be releasing new rubber-based products like aluminium insulation tubes, aluminium insulation sheet, aluminium insulation roll, slitting tubes, colour tubes and foam tapes, PVC tapes, flexible duct insulated, flexible duct un-insulated.
RWI stand at ‘The Big 5 Saudi,’ will be located at stand no. 58 at hall No. 1.
The CPH World Media report further states that Saudi Arabia’s large oil revenues have made it possible for the construction industry to employ the extra liquidity for its growth, it said. – TradeArabia News Service