With six new cities being constructed, and more than 4,400 new
schools, five airports and 3,000 kilometres of rail track, UK Trade
& Investment (UKTI) is calling on infrastructure firms to
investigate the multi-billion pound opportunities in Saudi
Arabia.
UKTI has released a report, entitled Building Saudi Arabia,
which identifies opportunities in construction and infrastructure
for UK firms in the Kingdom - the Middle East's largest economy,
ranked 16th in the world for Ease of Doing Business.
RMD Kwikform, of Aldridge, specialises in temporary works and
associated engineering design solutions for the global construction
industry. The company, which won The Queen's Award For Enterprise
2010 in recognition of its outstanding record in overseas growth,
opened a branch in Al Khobar, Saudi Arabia last October.
Mike Jones, Operations Director, said: "We believe Saudi Arabia
is the most exciting growth market in the Middle East, with
excellent long term potential.
"We considered our entry into the market very carefully and the
selection of a local partner of good standing was an important step
in the process.
"The customer expects world class products and a high level of
support service and that works very well for us as that is the
heart of our business model."
Saudi Arabia has the largest construction market in the Middle
East, which is one of the fastest growing in the world.
Underpinning this is an impressive US$129.7 billion programme of
mega projects, including the King Abdullah Economic City on the Red
Sea, which will be as big as Hong Kong.
UKTI Chief Executive Sir Andrew Cahn said: "The Kingdom of Saudi
Arabia controls a quarter of the world's oil and gas reserves, and
is a country that thinks big. Major projects are matched by major
investment, which offers huge opportunities for UK firms.
"Whether it is building infrastructure to help pilgrims in the
Hajj or new cities to help diversify the economy and provide jobs
for the growing population, the rate and pace of development in
Saudi Arabia is astounding.
"The UK has an excellent track record of managing major
infrastructure projects, and experience in designing and managing
the type of logistical projects that will be integral to the future
economic success of the Kingdom."
The report highlights opportunities for firms right across the
construction and infrastructure sectors, particularly in housing
and retail, water and power, railways, airports, seaports and
education construction.
UK Trade & Investment helps thousands of construction and
infrastructure companies to break into new markets every year.
The Building Saudi Arabia report is part of UKTI's programme of
practical assistance for UK-based companies seeking to enter
overseas markets. UKTI has a network of advisers in the UK
and abroad with the experience and contacts to facilitate UK
companies to make the right connections.