Saudi Arabia’s population will increase by 4 million people over the next ten years. The country is investing heavily in critical infrastructures such as water and power. There are more than $5.5 billion of water projects currently under construction.
Growing investment in water infrastructure in Saudi Arabia means spending during 2021 will increase to $2.3 Billion.
Saudi Arabia will spend more than $1.8 billion on water projects during 2021. The Kingdom has a pipeline of more than $19 billion of active water projects with $13.5 billion still in the pre-execution phase.
Rapid growing populations in a desert region mean water is an extremely scarce commodity. Saudi Arabia and the United Arab Emirates are investing in water processing capacity with more than $24 billion of active water projects.
The Kingdom of Saudi Arabia and the United Arab Emirates have combined more than $206 billion of active power Projects. ABiQ estimates these markets will spend more than $4.8 billion during 2021 on power projects.
2020 was the first time in history the spot price of oil went into negative territory, sending shockwaves through global oil producers. That said, Saudi Arabia still has more than $200 billion in active oil and gas projects.
ABiQ has expanded its research scope and will be tracking business opportunities in both UAE and Saudi Arabia.
At the end of 2019, Saudi Arabia and the United Arab Emirates had close to 400 million barrels of proven oil reserves, or 23 per cent of the global total. There are more than $400 billion of active construction projects in Saudi Arabia and the United Arab Emirates.
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