Saudi Arabia’s King Salman bin Abdulaziz Al Saud has issued a royal decree approving the private sector stimulation plan and allocating a total of SR72 billion ($19.2 billion) for the plan.

Saudi Arabia has announced an expenditure of of SR978 billion ($260.8 billion) for 2018, the largest budget spending in the history of the kingdom and a growth of 5.6 per cent compared to 2017. The budget envisages a capital expenditure of SR205 billion ($54.66 billion) or 21 per cent of total expenditures, 13.6 per cent higher than 2017.

Saudi-based Al Rajhi Building Solutions Group said one of its units, Cladtech International (CTI), has won a contract to manufacture and install curtain-wall facades for the Sail Tower project in Jeddah, on the Red Sea coast.

Spanish transport engineering specialist Ineco has been awarded a major contract by Dammam Airports Company (Daco) to develop the masterplan for the King Fahd International Airport in Saudi Arabia.

French state-controlled utility EDF aims to take part in a tender for the construction of two nuclear reactors in Saudi Arabia, said a report, citing senior sources. Saudi Arabia, which wants to reduce its domestic oil consumption, is considering building 17.

Saudi government has opened to the public a 4.2-km-long waterfront in Jeddah city built at a cost of SR800 million ($218 million), said a report.

The Saudi government has announced plans to award contracts worth SR1.4 billion ($372 million) for the development of key museum and heritage projects across the kingdom, said a report.

Saudi Aramco has awarded a contract to build three temporary construction facilities (TCFs) to Azmeel Contracting Company as part of the company’s Gas Compression Program in Haradh and Hawiyah.

$2.4bn for water infrastructure The Saudi government plans to spend more than SR9 billion ($2.4 billion) in building infrastructure for key water projects in the Makkah region, said a report.