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Bahrain awards $2.7bn worth of contracts in first nine months of 2020

Bahrain awards $2.7bn worth of contracts in first nine months of 2020

Robust figures come despite impact of Covid-19 on the global economy

Bahrain awarded 1,022 tenders in the first nine months of 2020 worth a total of $2.7bn, according to new data released by Bahrain’s Tender Board – the country’s government procurement regulator.

The oil sector took the lion’s share awarding 134 tenders worth $733.8m, followed by the construction and engineering industry, winning 162 tenders worth a combined $704.8m as the Government continues to fund major infrastructure projects, currently valued at some $3bn.

The construction and engineering sector was followed by the aviation sector, the materials and equipment sector, and finally the services sector, which saw a total of $501.3m, $471.5m and $256.1m worth of tenders awarded respectively. Incidentally, the services sector was awarded the highest number of contracts, at 361.

Tatweer Petroleum topped the list for the highest total value of tenders issued, worth a combined $711.7m. Gulf Air followed close behind, awarding some $488m worth of tenders, followed by the Electricity & Water Authority; the Ministry of Works, Municipalities Affairs & Urban Planning; and the Ministry of Housing, which awarded a combined $343.6m $254.3m and $240.4m of contracts respectively.

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A record number of tenders were awarded to the SME sector, indicative of government support for a sector that it regards as the engine for post-Covid economic recovery.

“Despite the ongoing global economic challenges, the first nine months of 2020 have seen Bahrain award more than 1000 contracts valued at well over $2bn to businesses in all sectors across the board,” Shaikh Nayef bin Khalid Al Khalifa, chairman of the Tender Board noted.

“This robust performance is indicative of Bahrain’s commitment and ability to remain open for business even in times of crisis. Of particular note is the consistently high value of contracts in the Kingdom’s thriving construction and engineering sector, a testament to the rich opportunity on offer owing to our extensive, multi-billion-dollar pipeline of projects there.”

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