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Bahrain Implements Government Projects Worth $1.9 Bn During Q1 of 2018

A scene in Bahrain’s capital, Manama. Asharq Al-Awsat
A scene in Bahrain’s capital, Manama. Asharq Al-Awsat
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Bahrain Implements Government Projects Worth $1.9 Bn During Q1 of 2018

A scene in Bahrain’s capital, Manama. Asharq Al-Awsat
A scene in Bahrain’s capital, Manama. Asharq Al-Awsat

Bahrain has established investment projects worth $1.9 billion in various sectors during the first quarter of 2018, with oil, gas, infrastructure and health sectors topping these projects.

Oil and gas sectors accounted for 32 percent of the total value of these projects at $623 million.

The momentum of investment in this sector was mainly due to the construction and expansion project of the Bahrain Petroleum Company (Bapco) refinery through which Bahrain plans to raise its production capacity in oil refining from 260 thousand barrels per day (bpd) to about 360 thousand bpd.

The increase in production capacity comes in line with the expansion of the oil pipeline linking Saudi Arabia to the Kingdom of Bahrain, which will increase its capacity to 350,000 bpd.

Second came the infrastructure sector with 31.9 percent of the total value of the established projects, which amounted to $615 million. The third place was taken by the health sector with 22 percent and a total value of about $440 million.

Aviation sector, for its part, accounted for about seven percent of the projects implemented during the first quarter of 2018, with aviation contracts amounting to $136 million.

Bahrain’s government also continues to invest in the housing sector by accelerating steps to reduce the waiting period of the Bahraini citizen between submitting the application and receiving the property.

The percentage of government investments in this sector is about 1.5 percent, at more than $28 million.

This was followed by the information sector with a rate of 1.2 percent, with contracts worth about $24 million, then the youth and sports sector by 1.1 percent and the volume of investment contracts of about $21 million.

Accordingly, 190 projects were implemented in the infrastructure sector, 79 projects in the oil and gas sector, 53 projects in the aviation sector and 38 projects in the health sector.

These were followed by the education and youth sector with 24 projects, 12 projects were implemented in the investment sector and five projects in the housing sector.

The size of these investments reflects the extent of government interest in enhancing the Kingdom's infrastructure, which holds the largest share of the value of the projects.

These investments are mainly related to the infrastructure projects the government is working on in cooperation with the private sector.

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Saudi Minister of Industry: Geological Survey Authority to Play Key Role in Mining Over Next 25 Years

Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)
Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)
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Saudi Minister of Industry: Geological Survey Authority to Play Key Role in Mining Over Next 25 Years

Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)
Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)

Saudi Arabia’s Geological Survey Authority plays a vital role in uncovering the earth’s reserves of metals such as gold, zinc, and copper. According to Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, this role is set to expand significantly in the next 25 years as the Authority becomes central to advancing the mining sector.

Alkhorayef emphasized the commitment to continuing geological survey and exploration projects, providing critical data to investors. He highlighted initiatives launched by the Authority to transform the mining sector into the third pillar of the national economy.

The minister was speaking during a ceremony celebrating the 25th anniversary of the Saudi Geological Survey Authority. The event, held under the patronage of Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of the Makkah Province, was inaugurated by Prince Saud bin Mishaal bin Abdulaziz, Deputy Governor of the region, in the presence of senior officials and distinguished guests.

In an interview with Asharq Al-Awsat, Alkhorayef noted the significant influx of investment in Saudi Arabia’s mining sector.

“There is now a large number of investment applications in the mining sector. We are collaborating with other government entities to ensure site allocations for investors,” he said.

He added that new agreements are being signed daily, both for expansions by existing investors and for new entrants to the sector.

The data obtained from geological surveys and the Authority’s digital platform has positioned Saudi Arabia as a prime destination for mining investments,’ he stressed.

“The results we achieve through geological surveys and accurate data collection make Saudi Arabia a key focus for companies seeking to expand in the mining sector to secure future resource supplies,” added Alkhorayef.

He also underscored efforts to verify data through additional sampling and by concentrating on areas with the richest deposits, which enhances the credibility of Saudi mining data globally.

Saudi Arabia has implemented extensive geological survey projects, covering over 85% of the country’s territory through advanced geophysical and geochemical techniques.

Alkhorayef highlighted the General Geological Survey Program and the initiative to build a National Geological Data Repository. These efforts have increased the estimated value of the Kingdom’s untapped mineral resources from SAR 4.9 trillion in 2016 to SAR 9.4 trillion at the beginning of 2024.

At the ceremony, the Deputy Governor of Makkah Province unveiled the Saudi Geological Survey Authority’s new logo, reflecting its geological identity and ongoing efforts to map the Kingdom’s resources while promoting cultural and environmental awareness. The event also included recognition for the Authority’s founding committee members and ceremony sponsors.

Alkhorayef noted that the Authority has completed more than 500 specialized projects across various earth science fields. These include geological mapping at various scales, mineral exploration, geophysical, geochemical, and marine surveys, geological hazard monitoring and mitigation, and mining research and studies.

He pointed to the Authority’s emphasis on developing its human resources, recognizing that their dedication and expertise have been pivotal to its success and to earning widespread acclaim for its accomplishments.

In his remarks marking the Authority’s 25th anniversary, Alkhorayef acknowledged the significant national efforts in exploring mineral wealth over the past quarter-century.

These efforts have led to major discoveries that have positively impacted multiple sectors, he said, adding that discoveries of key minerals like phosphate, potassium, gold, and silver, as well as strategic mineral reserves, have bolstered investments and spurred the growth of the mining sector.