Bahrain has awarded 1,070 tenders and auctions worth $3.42 billion in the first half (H1) of 2021, despite the terrible economic conditions induced by the COVID-19 outbreak, according to the latest data issued by Bahrain’s Tender Board.
The Kingdom issued 297 more tenders than the same period in 2020. Tenders include 762 non-oil contracts worth $1.8 billion. Aside from oil, the aviation sector secured the highest value of tenders at $474 million, followed by the construction industry at $411 million.
The total value of the tenders awarded has grown by 60 percent which reflects the volume of economic activity in the kingdom. Contracts in the sectors of services, auctions, and investment reached over $383 million, while contracts in the materials and equipment sector reached $363 million.
Shaikh Nayef Chairman Bahrain Tender Board
“Bahrain was the Gulf’s first country to diversify its economy away from oil and the figures for the first half of 2021 show that we are continuing to facilitate that drive. Now that the pandemic is beginning to subside, we can press on with lots of exciting projects across our industries. We have succeeded in performing our duties to the fullest while enabling the managing authorities to implement their plans and projects without any delay thanks to the adoption of an emergency plan in line with the instructions of the National Medical Team.”
According to data from Bahrain’s Tender Board, Tatweer Petroleum was the largest selling agency in terms of tender value in the first half, with $1.4 billion for 63 tenders, followed by Bahrain Petroleum Company with $280 million for 31 tenders.
The Ministry of Works, Municipalities Affairs and Urban Planning came in the second spot with a value of $231 million for 74 tenders, followed by the Electricity and Water Authority with a total value of $214 million for 74 tenders, and finally Gulf Air with $116 million worth for 59 tenders.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
