Saudi Arabia’s National Commercial Bank (NCB) has said the total value of awarded contracts in the Kingdom during the second quarter of this year has reached around $19.9bn, of which the petrochemical and power sectors awarded $13.8bn.

These two sectors accounted for $17.9bn of the total value of $33.8bn in awarded contracts in the first six months of 2012, with infrastructure related sectors, such as the healthcare, education, urban development and roads, which have been the focus of public spending, contributing some $7bn to the total during the period.

The $33.8bn in awarded contracts during the first half is 50% more than the same period in 2011, which had reached $22.5bn.

Given the amount of mega-projects awarded in the petrochemical and power sectors, the Eastern Province was the largest recipient as 37% of all awarded contracts by value occurred in that region.

The Makkah region also had several mega-projects that were awarded in the petrochemical sector, mainly due to the development of Petro-Rabigh’s refinery and petrochemicals complex in the city of Rabigh.

The Madinah region captured 14% of the value of awarded contracts largely due to the development of the third phase of Yanbu’s Power Plant.

The Riyadh region benefitted from numerous contract awards across numerous sectors, which contributed to its 14% share, the report said.