The Saudi government has allocated a whopping SR1.44 trillion ($385 billion) for various infrastructure and welfare projects under its ninth five-year (2010-14) development plan, said a report.

The amount endorsed by the Saudi cabinet is 67 per cent more than the previous plan, the Arab News reported.

Under the new plan, about 50.6 per cent of the spending has been set aside for the manpower development sector that covers education and training, said the report, citing Custodian of the Two Holy Mosques King Abdullah.

Social development and health care will get 19 per cent of total allocations, economic resource development 15.7 per cent, transportation and telecommunications 7.7 per cent while municipal services and housing will be allocated seven per cent, it added.

Economy and Planning Minister Khaled Al-Gosaibi said the five-year plan was aimed at achieving sustained development besides strengthening the Kingdom’s competitiveness and transforming it into a knowledge-based economy.

“Increasing economic growth, improving the living standards and quality of life of citizens, and achieving balanced development of the Kingdom’s regions are some of the plan’s main objectives,” the minister was quoted as saying.

Al Gosaibi said the Saudi GDP was poised for a 5.2 per cent growth in 2009 'with the per capita income growing from SR46,200 in 2009 to SR53,200 by 2014.'

Under the five-year plan, a million housing units will be constructed by the public and private sectors to meet 80 per cent of the housing demand in the country. It will provide 266 million cu m of land for housing projects, the report said.

On the kingdom's utility sector, Al Gosaibi said the capacity of desalination plants would be doubled from 1.05 billion to 2.07 billion cubic meters annually in 2014 to meet the risiing demand.

On the academic side, the minister said more primary, intermediate and secondary schools will be constructed to accommodate a total of 5.31 million students while the capacity of universities will be increased to 1.7 million.

Under the new plan, 117 hospitals will be set up including 32 specialist ones with 22,372 beds, 750 primary health care centers and 400 first-aid centers, the report added.