Saudi Industrial Project Awards Fall 45% to $24 Billion
J.P. Morgan strategists say Saudi Arabia’s industrial-sector project awards fell 45% year-on-year to $24 billion in September, mainly due to a collapse in power and water projects.
The value of total project awards across Saudi Arabia's industrial sector fell considerably this year as the Iran war dented the kingdom's momentum, J.P. Morgan's strategists say. Projects were down 45% year-on-year to $24 billion in September, mainly driven by a collapse in power and water sector…