Bahrain driving growth; awards deals worth $740mln in Q1

The kingdom’s $32 billion infrastructure project pipeline is a major contributor and driver of national economic growth

Bahrain had awarded a total of 372 tenders worth $740 million during the first three months of the year, thus reaffirming the Kingdom’s efforts to continue public and private sector spending on major infrastructure projects despite the exceptional circumstances currently affecting the globe regarding the Covid-19 outbreak.

 

Of these, the biggest share (30%) of tenders was for procurement of equipment and materials worth $233 million followed by he construction and engineering services sector which accounted for 26% of tenders worth $188.7 million, according to new data released by the Bahrain Tender Board.

 

Aviation sector was the third, taking 18% of the tenders valued at $132 million, while the fourth and fifth slot was taken by the oil and gas sector and the services sector, accounting for 15% and 11% of the awarded tenders, it stated.

 

According to Bahrain Tender Board, a total of 1,730 tenders worth $4.9 billion had been awarded last year with the construction and engineering services sector grabbing the lion’s share (45%) worth $2.2 billion.

 

The oil and gas sector came second with $1.2 billion tenders (around 24% of the total) followed by the aviation sector with $627 million tenders accounting for 13% share.

 

The Tender Board said the kingdom’s $32 billion infrastructure project pipeline is a major contributor and driver of national economic growth.

 

Among the key projects currently under way is the Bahrain Petroleum Company (Bapco) refinery modernisation project (now 40% complete), the $1.1-billion Bahrain International Airport expansion project that will contribute to doubling the airport's capacity to 14 million passengers annually, and the fleet upgrade of Bahrain’s national carrier Gulf Air it stated.

 

Chairman Shaikh Nayef bin Khalid Al Khalifa said: "The new data reflects the stability of the bids awarded in all sectors, and reinforces the sustainability of Bahrain’s development services as part of the ongoing urban infrastructure expansion that the country is undertaking."

 

"In line with the objectives of the Bahrain Economic Vision 2030, these numbers encourage us to provide best-in-class services that meet and exceed our citizens’ expectations and align with our national priorities to achieve sustainability and encourage investment, further driving the country’s economic evolution," he added.

 

Sheikh Nayef said in an effort to enhance market competitiveness, the board had sought to encourage a wider range of suppliers and contractors to participate in government tenders and bidding last year.

 

"The Tender Board achieved distinguished results in 2019 in terms of its selection of government tenders and auctions, with the number of public tenders constituting 70.5% of the 2019 total – up from 57% the previous year," he stated.

 

“In addition, the number of limited tenders declined from 25% to 19.3% of the total number of tenders, while the contracting ratio registered 10.3% in 2019, compared to 18% in 2018," noted Sheikh Nayef.

 

Source: https://www.zawya.com/mena/en/economy/story/Bahrain_driving_growth_awards_deals_worth_740mln_in_Q1-SNG_174345147/

 

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