Bahrain awards $2.7 billion worth of contracts in first nine months of 2020
Continued high value of tenders in the construction sector indicative of government focus on multi-billion dollar infrastructure project pipeline.
Bahrain awarded 1,022 tenders in the first nine months of 2020 worth a total of $2.7 billion, according to new data released by Bahrain’s Tender Board – the country’s government procurement regulator.
In terms of value of contracts, the oil sector took the lion’s share awarding 134 tenders worth $733.8 million (BHD 277.4 million), followed by the construction and engineering industry, winning 162 tenders worth a combined $704.8 million (BHD 265 million) – clearly underscoring the Government’s continued commitment to its extensive pipeline of major infrastructure projects, currently valued at some $32 billion.
The construction and engineering sector was followed by the aviation sector, the materials and equipment sector, and finally the services sector, which saw a total of $501.3 million (BHD 188.5 million), $471.5 million (BHD 177.3 million) and $256.1 million (BHD 96.3 million) worth of tenders awarded respectively. While bringing up the rear in terms of value of contracts, the services sector was awarded the highest number of contracts, at 361.
Commenting on the new figures, the Chairman of the Tender Board, Shaikh Nayef bin Khalid Al Khalifa said: “Despite the ongoing global economic challenges, the first nine months of 2020 have seen Bahrain award more than 1000 contracts valued at well over $2 billion to businesses in all sectors across the board. This robust performance is indicative of Bahrain’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, testament to the rich opportunity on offer owing to our extensive, multi-billion dollar pipeline of projects there.”
As for the purchasing authorities, Tatweer Petroleum topped the list for highest total value of tenders issued, worth a combined $711.7 million (BHD 267.6 million). Gulf Air followed close behind, awarding some $488 million (BHD 183.5 million) of tenders, followed by the Electricity & Water Authority; the Ministry of Works, Municipalities Affairs & Urban Planning; and the Ministry of Housing, which awarded a combined $343.6 million (BHD 129.2 million), $254.3 million (BHD 95.6 million) and $240.4 million (BHD 90.4 million) of contracts respectively.
The positive figures follow closely on from the release of equally encouraging data released by the Tender Board halfway through the year. Highlights included a record number of tenders awarded to the SME sector, indicative of government support for a sector that it regards as the engine for post-COVID economic recovery.
Credit to www.oilandgasmiddleeast.com