JEDDAH: The Kingdom of Saudi Arabia is in the spotlight for mega infrastructure projects. Research reports state that the Kingdom is investing heavily to the tune of SR1,496 billion ($400 billion) to upgrade its infrastructure over a five-year period until 2013.
The region is placing top most priority on infrastructure development across industries such as power, transportation, education, retail, real estate and oil and gas among others.
There was a slew of project announcements in 2009 and many of these projects are now under way. 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 Makkah and Madina and the expansion of King Khaled International Airport and Prince Mohammed Bin Abdul Aziz International Airport in Madina.
Citing a few examples, the construction industry alone has been forecasted to grow by 5.89 percent year-on-year (y-o-y) 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 in Madina, is estimated to cost SR7 to SR8 billion ($1.87-2.13 billion).
Responding to the growth in the Kingdom, the first Saudi Arabian Infrastructure Congress 2010 will provide the requisite platform for delegates across the region to interact with key government developers and clinch deals. The Congress will be held on Oct. 23-25, 2010 at the Four Seasons Hotel in Riyadh.
The Congress will witness an attendance of around 40 percent of delegates from Saudi and the Gulf Cooperation Council (GCC) region. Senior government organizations 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. The Congress is organized by IIR Mideast.