By Akanimo Sampson
In the first quarter of this year, the construction and the engineering consultancy sector of Bahrain generated $194 million.
This is as $1.6 billion worth of government contracts were awarded within the period, going by data released by Bahrain’s Tender Board, the country’s public procurement regulator.
The value of the awarded tenders grew by 23% from $1.3billion in the first quarter of 2020 which reflects the increased economic activity in the Kingdom.
The growth was partly driven by projects linked to Bahrain’s $32billion infrastructure spend – which includes strategic infrastructure projects such as the multi-billion dollar refinery modernisation project, which is 70% complete and due to finish by the end of 2022.
In terms of value, oil was the largest sector with $767million worth of contracts in Q1 2021, followed by the aviation sector.
While the construction and engineering consultancy sector has generated $194 million worth of contracts so far this year; with the materials and equipment receiving contracts worth $119 million.
Chairman of the Tender Board, Shaikh Nayef bin Khalid Al Khalifa, said, “the volume of economic activity, with 25% more tenders awarded in the first quarter of this year compared to last year, demonstrates the strength of the economy and the size of the opportunity for businesses that are looking to partner with Bahrain.
Improvements made to our e-tendering system over the last year are just part of a wider digitalisation drive that is realising greater efficiencies, benefiting the private sector and taking full advantage of Bahrain’s advanced digital infrastructure.”
In terms of the purchasing authorities, Tatweer Petroleum was the biggest spender, awarding $509 million worth of contracts, followed by Gulf Air. Bapco (Bahrain Petroleum Company) placed third with tenders worth $257 million, followed by the Ministry of Works, Municipalities Affairs at $224 million and the Ministry of Health.
