Despite the turmoil in global energy markets, Saudi Arabia moved towards the end of 2014 with its economy having outperformed many in the region.
The first wave of state-backed solar power stations in Saudi were recently unveiled as part of a much larger commitment to diversify the Kingdom’s electricity generation capacity.
Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, real GDP grew by 3.8% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent decades growing 9.3% in 2013.
To what extent is rail network development a “game changer” for Saudi Arabia’s mining industry?
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