New Saudi projects suggest infra project freeze easing
Authorities announce three public transport projects in the port city of Jeddah – report
Three new public transport projects announced in the city of Jeddah suggest a Saudi freeze on infrastructure projects is easing, a Reuters report said.
New projects in the western port city include a tram line along the corniche, a marine taxi service and a bridge linking two of the city’s neighbourhoods, according to local media.
The projects, which are open to private-sector participation, are “a sign that a freeze on new infrastructure work in the kingdom may be easing as the government slows its austerity drive”, Reuters said in a report.
Saudi Arabia in December released its annual budget statement for 2017, in which it signalled higher spending for the year, but also projected a lower fiscal deficit.
Spending on infrastructure and transport is slated to rise 39% from last year’s actual level, the Reuters report said.
