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EMIRATE ON SPENDING SPREE

Fifa World Cup 2022 projects will be unveiled at the two-day event.

Qatar to award $22bn World Cup 2022 contracts

DOHA, February 7, 2016

Qatar is set to award more than $22 billion worth of new contracts in 2016 as it maintains its spending spree in advance of the Fifa 2022 World Cup, said a report by regional projects tracker Meed Projects, ahead of a key industry event.

With more than $30 billion worth of projects either planned or under construction, Qatar's Public Works Authority (Ashghal) is a key stakeholder in the country’s future development, it stated.

Its prime projects include the $10 billion-plus expressway and local roads and drainage programmes, the Inner Doha Re-Sewerage Implementation Strategy (Idris); and the major public buildings programme which are under way.  

The others set to be awarded or tendered this year include the first phase of the $15 billion long-distance passenger and freight network, and the estimated $2 billion expansion of Hamad International Airport, stated the report ahead of the annual Meed Qatar Projects Conference to be held in Doha next month.

According to Meed Projects, the forecast of $22.2 billion contracts this year is about 24 per cent less than the $29.3 billion deals awarded in 2015, primarily due to lower oil prices but also thanks to a renewed focus on existing project delivery rather than the launch of new schemes.

However, this year’s figure is also almost exactly in line with Qatar’s $22.3 billion contract award average experienced over the past five years, stated the report.

All these projects, along with many others comprising the over $200-billion worth of projects in the pipeline, will be presented at the event to be held at the St Regis Hotel, Doha from March 15 to 16.

"Like all GCC states, Qatar is set to spend less this year as government revenues are impacted by lower oil prices," stated Ed James, the director of content & analysis at Meed Projects, which created the forecast.

“Nonetheless, the projects market in the state is expected to continue apace as the authorities press ahead with their capital investment plans as the deadline for the World Cup looms closer. This will ensure a healthy pipeline of new projects will come to the market throughout 2016, providing numerous new opportunities for suppliers, contractors and vendors alike,” he stated.

Prestigious keynote speakers at the event will be Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce along with Nasser bin Ali Al Mawlawi, the president of Ashghal.

As a key stakeholder in Qatar’s future development,  Ashghal will outline its vision for the country at the upcoming event. It will also reveal details of its major challenges as well as how companies can work more closely with it to achieve its objectives.

The other key speakers include Saud Abdullah Al Attiyah, the director of Economic Policies and Research Department at the Ministry of Economy and Commerce in Qatar, Ahmed Nassar Al Kowsi, the logistics director and Kaldoon Truman, the senior director of contracts and procurement both from Qatar Rail, Mohammed Al Malki, the chief planning business development officer at Manateq, Atter Exxat Hannoura, the director of PPP Central Unit at the Ministry of Finance in Egypt besides senior representatives of the Ashghal.
 
The major topics to be covered include: an exclusive update on the implementation of PPP regulations in the $200 billion Qatari projects market; evaluating the existing funding options to finance mega project programmes in Qatar; discussing the critical challenges facing project owners and contractors from the initial stage of recruiting through to project delivery - the lessons learned; managing risk and mitigating disputes in the Qatari project market through well-constructed contracts; discussing the upcoming plans for growth and development of the hospitality industry in Qatar; delivering efficiency in logistics for the construction of mega projects in Qatar and a recent update of the existing and future mega projects happening in Qatar.

Richard Thompson, the editorial director of Meed Magazine, pointed out that Qatar was once again going to lead the region and the world with further progress in the execution of its inspiring vision for the years to 2030.

"Lower oil prices can’t be ignored, but it’s clear that Qatar has the financial and human resources overcome this challenge. The conference will be the perfect place to learn how Qatari, regional and global businesses can play their part in delivering the vision," he added.-TradeArabia News Service




Tags: Qatar | contracts | World Cup 2022 |

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