GCC Project announcements double in 2021
Retrieved on:
Tuesday, January 18, 2022
DUBAI, UAE, Jan. 18, 2022 /PRNewswire/ --
Key Points:
- Backed by the activities in Q4, project announcements expanded around six-fold YoY to USD 11.3 billion and annual project awards crossed the USD 4 billion mark, which is the equivalent of 17% YoY growth.
- The BNC GCC Energy Projects Index grew by 5% YoY with USD 62.1 billion worth of new schemes announced in 2021.
- Also as per the latest Project Journal, Saudi Arabia and the UAE continue to lead project development.
- The kingdom topped the project announcement chart with a 43% share in 2021, followed by the UAE with a 22% contribution.