Emirates Industrial Bank rates GCC’s top infrastructure developments
Emirates Industrial Bank has ranked Qatar third in the GCC for infrastructure development.
The scale is based on the level of investment pledged. Qatar has committed to spend US $135b between 2010 and 2015, with Saudi Arabia and UAE ranking first and second, with budgets of $405bn and $230bn respectively.
Chief Technical Officer of HBK Contracting R Vedhachalam, has said he expects Qatar’s construction industry to begin accelerating from 2013.
Vedhachalam said HBK plan to bid on the planned metro
“Qatar has seen the growing pains experienced by its rapidly developing neighbours and has recognised that opportunities exist to improve the quality of life of its citizens through planned infrastructure management and traffic and transport co-ordination,” Vedhachalam said.
The plans are not only backed by the 2022 World Cup, but also a 30% share of the 2010-2011 fiscal budget, set at $32b, for upgrades alone. Sheikh Hamad bin Jassim calls the allocation “significant”.
It is reported the planed developments include a $13b airport expansion, $20b in highways projects and $40b on the Doha metro, in addition to completing the Friendship Bridge, the world’s longest bridge over sea, which will link Qatar to Bahrain.
Qatar Petroleum recently announced a string of projects at Doha’s Mesaieed Industrial City, including a finalised design of the new Mesaieed-Sealine road, for which tenders are expected in July; and maintenance of other roads in residential areas.
Both Qatar’s new infrastructure tenders and other planned developments, have also increased employment opportunities in the field, with many companies currently mobilising and recruiting management divisions.