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Industry news – Article 14


Construction sector is 2nd biggest non-oil sector in KSA

RIYADH — The construction sector is the second biggest non-oil sector in Saudi Arabia at approximately SR255 billion annually, Minister of Municipal and Rural Affairs and Housing Majid Bin Abdullah Al-Hogail confirmed.

Al-Hogail stressed that transforming the construction sector into an industry would constitute a pivotal step through which it will contribute in providing the best solution to face the sector's challenges.

He also added that transporting most of the operations from the location to the factory will enhance the ability of using modern technologies and methods, and also will increase the quality of the products and the speed of its completion, which will positively reflect on the costs and the safety standards.

While inaugurating the third edition of the International Contracting Conference, Al-Hogail noted that there are more than 175,000 companies that are working in the contracting sector with about 4 million workers.

He said that International Contracting Conference is considered as an opportunity for those who are interested to know more and learn about the latest legislative and technical developments in the contracting sector.

The contracting sector represents a main pillar in the growth and prosperity of Saudi Arabia, as it is also a main engine for several sectors, and by this it will enhance the level of interest in its development and support.

Al-Hogail indicated that the establishment of a permanent coordination committee to develop the sector comes as one of the capabilities that has been offered by the Saudi government.

It is noteworthy that the International Contracting Conference aims to review the latest technologies and equipment that is used in the construction, as there are more than 25 local and international speakers who speak about the latest information and experiences about the sector.

Source: Saudi Gazette