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Saudi Arabia plans to cancel the total value of about 20 billion US dollars project

  • Author:Lucy Tian
  • Source:Onekin
  • Release on:2017-01-10
According to the US Bloomberg reported on January 9,the Saudi Department of Economic is planning to hire PricewaterhouseCoopers(PwC) to review the total value of about 69 billion US dollars (about 478.515 billion yuan) of government contracts,in order to remove about one-third of the contracts.

The projects currently under reviewing include the contracts previously awarded by the Ministry of Housing, Transport, Health and Education.PwC will also advise the Saudi government on how to reduce project costs or privatize the project.

The report said,Mohammed bin Salman,Saudi deputy crown prince,is trying to push the world's largest oil-exporting country's economic transformation,by control spending and narrow the budget gap to get rid of dependence on oil exports.

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