GCC utility contracts worth $32.4 billion will provide key business
opportunities for exhibitors at Middle East Electricity.
GCC plans $32bn power, water projects in 2013
Dubai, December 10, 2012
A fresh flow of GCC construction contractor awards for new power and water projects are on the grid and expected to be worth $32.4 billion in 2013, according to the latest GCC Power and Desalination report from research firm Ventures Middle East.
After a lull in 2011 amid uncertain economic conditions and political apprehensions across the wider Mena region, the power and water sector is back on track, as GCC annual electricity demand grows from 10 to 15 per cent annually and regional governments scramble to catch up, the report said.
According to the Venture’s report, most of the power and water project activity for 2013 is expected in Saudi Arabia, which will see $17 billion worth of new contracts awarded, followed by the UAE and Kuwait, which are both expected to sign off on brand new contracts totaling $4.2 billion each.
In Qatar, power and water contracts worth $3.2 billion are expected in 2013, tailed closely by Oman with $2.7 billion worth of contracts, with Bahrain rounding off the figures with $1.1 billion of fresh contract awards for the year, the report added.
With power demand in the region set to triple over the next 25 years, infrastructure developments backed by governments and public private partnerships (PPPs) are surging ahead, providing perfect business opportunities for global energy sector players at one of the industry’s largest events, Middle East Electricity, taking place from February 17-19 at the Dubai International Exhibition and Convention Centre.
More than 1,000 exhibitors from 58 countries involved in the power, lighting, renewable and nuclear sectors will be out in force at the three-day event, held under the patronage of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.
Anita Mathews, the exhibition director of Middle East Electricity said: “The GCC region will require an additional 60 Gigawatts of power capacity by 2015, and the coming years are likely to witness a substantial improvement in the development of regional utility infrastructure.”
“Rapidly increasing population and expanding commercial, industrial, and residential sectors will ensure that regional demand for electricity and water will continue unabated, and the timing is perfect for international companies to showcase their products and services to a proven audience of key decision makers at Middle East Electricity,” she noted.
Now in its 38th edition and organised by Informa Exhibitions, Middle East Electricity is the largest and longest-running energy event in the Middle East, attracting more than 15,000 visitors from 120 countries every year, said Mathews.
The three-day event is co-located with the inaugural edition of Solar Middle East, a dedicated platform for the burgeoning regional solar industry, and set to become largest gathering of solar technology suppliers ever seen in the Mid East.
Middle East Electricity returns with the popular Middle East Electricity Awards, an extended programme of technical seminars, and is partnered with Power + Water Middle East in Abu Dhabi, Power Nigeria in Abuja and Africa Electricity in Johannesburg, she added.-TradeArabia News Service