Bahrain to spend $2.5bn on infrastructure
Manama, January 8, 2013
Bahrain will spend more than $2.5 billion on infrastructure projects including major road networks and construction in the next 10 years, said a senior government official.
The funds will be used on schemes including, the Alba and Nuwaidrat interchange project, building six new schools as well as developing the country's road network, Works Minister Essam Khalaf was quoted as saying in our sister publication, the Gulf Daily News (GDN).
The projects will be funded by the $10 billion GCC Marshall Plan, which aims to boost public spending and accelerate the growth of Bahrain's economy.
"These projects and many others will be financed by funds from the GCC, of which Bahrain is to receive $10 billion in the next 10 years," Khalaf told the GDN.
"This is in addition to what we will get from our own annual budgets."
He was speaking on the sidelines of the second Arabian MEP Conference and Exhibition at the Bahrain International Exhibition and Convention Centre, where he added that the Works Ministry was entitled to a quarter of the GCC Marshall Plan fund.
The two-day expo features more than 100 exhibitors, including experts in the fields of mechanical, electrical, plumbing, heating, ventilation, air conditioning insulation, refrigeration and automation.
It is being organised by Exposure Media and supported by the Works Ministry, which has set up a material testing lab at the venue.
Khalaf said another important project funded by the plan was the expansion of the Tubli Water Treatment Plant, the capacity of which would be expanded from the current 200,000 cubic metres to 400,000 cu m.
"Bahrain is on the development path and several projects are coming up in the next few years," he explained.
"Several important infrastructure projects are set to be tendered in the next few weeks and months."
Khalaf stressed that this year would give Bahrain's infrastructure sector a much-needed boost as several existing projects would be completed and new ones would be launched.
He said the use of green technologies was also being encouraged in the country.
"We have implemented such clean and green technologies in several of our own facilities and are giving proper incentives to those who use them," he added.
He said the MEP Exhibition was a perfect platform for those who use such technologies to come together, share ideas and provide suggestions.
Exposure Media managing director Sijo Joseph said the expo aimed to gather experts to share their knowledge on the developments in the sector.
He said the heating, ventilation and air conditioning industry was developing and progressing in the Middle East region and the conference was a perfect meeting point to interact with entrepreneurs worldwide to exchange breakthrough technologies and innovative ideas.
Those taking part include manufacturers and distributors of products, allied equipment and components suppliers, mechanical and plumbing contractors, architects, designers, builders, consultants and technicians, among others. – TradeArabia News Service