Bahrain awarded $1.6 billion worth of Government contracts in the first quarter of 2021, according to new data released by Bahrain’s Tender Board – the country’s government procurement regulator. In total, the value of the awarded tenders grew by 23% from $1.3 bn in Q1 of 2020.
The growth was partly driven by projects linked to Bahrain’s $32bn infrastructure spend – which includes strategic infrastructure projects such as the multi-billion dollar refinery modernization project, which is 70% complete and due to be finished by the end of 2022.
In terms of value, oil was the largest sector with $767 million worth of contracts in Q1 2021, followed by the aviation sector, with contracts valued at $382 mn.
The construction and engineering consultancy sector has generated $194 mn worth of contracts so far this year, with the materials & equipment sector receiving contracts worth $119 mn.
Commenting on the new figures, the Chairman of the Tender Board, Shaikh Nayef bin Khalid Al Khalifa said: “The volume of economic activity, with 25% more tenders awarded in the first quarter of this year compared to last year, demonstrates the strength of the economy and the size of the opportunity for businesses that are looking to partner with Bahrain.”
“Improvements made to our e-tendering system over the last year are just part of a wider digitalization drive that is realizing greater efficiencies, benefiting the private sector and taking full advantage of Bahrain’s advanced digital infrastructure.”
In terms of the purchasing authorities, Tatweer Petroleum was the biggest spender, awarding $509 mn worth of contracts, followed by Gulf Air which reached $369 mn.
Bapco placed third with tenders worth $257 mn, followed by the Ministry of Works, Municipalities Affairs at $224 mn, and the Ministry of Health reaching $75.6 mn.