Saudi Arabia was the GCC’s most active projects market for transport contracts for the fourth year running in 2023, with over $16.1bn-worth of awards in the sector. With nearly $32.5bn-worth of projects in the bidding stage for the rest of 2024, the outlook remains strong for the transport sector this year. In addition to Saudi Arabia’s masterplans, there are also a variety of public transport projects, logistics platforms and railways in the procurement process as part of the kingdom’s National Transport & Logistics Strategy. Going forward, the kingdom’s rail and airport sectors are expected to gain momentum, driven by the government’s efforts to develop a pipeline of projects that are vital for the kingdom’s economic growth. Furthermore, the Saudi Ports Authority (Mawani) is implementing a series of projects as part of its efforts to improve and expand infrastructure at ports and increase utilisation rates. There are projects worth $213bn planned or under way in the transport sector, making it the second-largest sector in Saudi Arabia. (ICE RIYADH)

Fonte notizia: Meed