Thursday 2 April 2020

Abu Dhabi eyes $2.72bn PPP infrastructure projects

ABU DHABI, February 20, 2020

The Abu Dhabi government has announced its intention to procure approximately Dh10 billion ($2.72 billion) of infrastructure projects this year under its public-private partnership (PPP) model in a range of sectors across the emirate.

The tenders are part of a initiative dedicated to PPPs by the Ghadan 21 accelerator programme, which focuses on economy, knowledge and community development across Abu Dhabi, said a statement from Abu Dhabi Department of Economic Development (ADDED).

As it continues to invest in business, Ghadan 21 will help the private sector, through this PPP initiative, to participate in partnerships with government entities in the development of major infrastructure projects, it stated.

The Dh50-billion Ghadan 21 is driving Abu Dhabi’s development through investing in business, innovation and people.

The three-year programme was envisioned and approved by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council.

These projects will span sectors such as social, municipal and transportation. The use of the PPP model supports the growth of the private sector, enhances financial sustainability, and facilitates better execution and service outcomes over the long-term, said the statement.

The tenders come following the issuance of a law last year by President HH Sheikh Khalifa bin Zayed Al Nahyan to regulate partnerships between public and private sectors.

The Abu Dhabi Investment Office (ADIO), in line with its mandate to encourage private sector investment in the emirate, is working alongside key government entities to deliver the PPP model, it added.

ADDED Chairman Mohammed Ali Al Shorafa Al Hammadi said: "Today’s Dh10 billion infrastructure projects announcement marks a milestone in our commitment to partner with the private sector to drive Abu Dhabi’s economic transformation."

"The Abu Dhabi government is committed to further reinforcing the important role of the private sector in the economy, which is key for a sustainable, resilient future," stated Al Hammadi.

"Globally, we are witnessing a shift from factor-driven to investment-driven and knowledge-based economies. Ghadan 21 is playing a critical role in fostering this shift in Abu Dhabi, and the programme is commencing its second year on a solid footing by weaving the private sector even further into the fabric of our development initiatives," he noted.

"Through the public-private partnerships initiative, the government is providing the private sector with more certainty and transparency around the development and procurement of major infrastructure projects in Abu Dhabi," remarked Al Hammadi, who is also the chairman of ADIO.

The Abu Dhabi government's PPP model will give clarity to prospective bidders by providing guidelines on joint team structures and ways of working between the government and the private sector, and detailing deregulatory measures to facilitate the contract award process, he added.-TradeArabia News Service


More Construction & Real Estate Stories

calendarCalendar of Events