Qatar to award $106bn projects by 2022
Doha, December 20, 2011
Qatar is set to award projects worth more than $106 billion between now and 2022 in line with its plan to develop a world-class infrastructure ahead of the Fifa World Cup Finals, according to a new report.
The Gulf state will be making significant investments in the oil and gas, heavy industry, electricity generation and water desalination, social infrastructure and transportation links, the Meed said in its '2011/12 Qatar Projects' report.
Qatar’s ambitious development plans over the next decade and beyond will be put under the spotlight once again at the annual 'Qatar Projects 2012' conference to be hosted by Meed Events in Doha next year.
The summit will showcase the growing number of opportunities emerging in Qatar, the world’s fastest-growing economy, said the organisers.
It is being held under the patronage of Dr Mohammed bin Saleh al-Sada, Minister of Energy & Industry and chairman & managing director, Qatar Petroleum from February 5 to 8 at the Grand Hyatt Hotel, Doha.
“With Qatar’s high profile hosting of the Fifa World Cup, a major coup for the country and indeed the region, the government has committed to an extraordinary programme of capital investment that will ramp up over the next 10 years to develop a world-class infrastructure to underpin an investment-friendly business and leisure destination,” said Edmund O’Sullivan, chairman, Meed Events.
Recognised as the world’s richest nation, the International Monetary Fund (IMF) lists Qatar’s domestic product per capita at $88,221, with the figure forecast to jump to an impressive $111,963 by 2016.
Qatar currently forecasts economic growth of around 16 per cent for 2011, and expects a budget surplus of $6.1 billion for the fiscal year.
The coming 12 months will see a raft of tender announcements with the contractor selection process already underway for the country’s $20 billion expressway programme, with the $35 billion QRail project – the largest railway programme in history – set to post a call for contracts by July 2012, said O' Sullivan.
"The scale of opportunities is unprecedented, and Qatar Projects 2012 will also provide exclusive insight into the country’s long-term blueprint for economic success as part of Qatar Vision 2030, with anticipated investment of up to $100 billion," he noted.
"This has the potential to catapult the country to the top of the list as the world’s largest projects markets on a per capita basis," he added.
According to him, the overarching theme for this year’s event is ‘The Journey to 2022’, and the week will kick off with a dedicated sports business forum.
"Our confirmed speaker line-up is growing by the day with senior government representatives and leading industry figures set to provide detailed commentary and a behind-the-scenes analysis of progress to date," said O’Sullivan.
The list includes Abdulla Bin Saoud al-Thani, governor, Qatar Central Bank; Nasser Ali al-Mawlawi, president, Ashghal; Remy Rowhani, director general, Qatar Chamber of Commerce & Industry; George Nasra, managing director, IBQ; Saad Ahmed Ibrahim al-Mohanadi, CEO of Qatar Railways Company; Khalifa al-Sowaidi, managing director, Qafco; Monjid Abdelmajeed, managing director, Redco Construction - Almana and Jalal Yousef al-Salihi, director Infrastructure Affairs, Ashghal.
Separate conference streams will focus on energy projects covering petrochemicals, power and water, as well as road, rail, aviation, real estate, social infrastructure and sports sector initiatives, he added.-TradeArabia News Service