Bahrain has awarded $1.6bn (BD607mn) worth of government contracts in Q1 2021, according to new data released by Bahrain’s Tender Board – the country’s government procurement regulator.
In total, the value of the awarded tenders grew by 23% from $1.3bn (BD 492 million) in Q1 2020, reflecting the increased economic activity in the Kingdom.
The growth was partly driven by projects linked to Bahrain’s $32bn infrastructure spend – which includes strategic infrastructure projects such as the multi-billion dollar refinery modernisation project, which is 70% complete and due to finish by the end of 2022.
In terms of value, oil was the largest sector with $767mn (BD289mn) worth of contracts in Q1 2021, followed by the aviation sector, with contracts valued at $382mn (BD144mn).
Meanwhile, the construction and engineering consultancy sector has generated $194mn (BD73mn) worth of contracts so far this year, with the materials & equipment sectors receiving contracts worth $119mn (BD45mn).Read the full article here