Qatar infrastructure spending to touch QR87.4bn this year
February 17, 2014 - 12:15:11 am
DOHA: Qatar is expected to witness a significant rise in project activity this year, especially the infrastructure sector, with contract awards anticipated to peak at about QR87.4bn ($24bn).
At the upcoming 11th Annual Qatar Projects Conference 2014, which is scheduled to be held here from March 17 to 19, over 400 local, regional and international stakeholders will find out the latest developments, timelines, and procurement requirements to successfully win contract bids in Qatar’s growing projects market.
“The Qatar’s projects market accelerated in 2013, overtaking the UAE in terms of contract awards midway through the year with QR44.43bn ($12.2bn) in new awards,” said Edmund O’ Sullivan, Chairman, MEED Events, organisers of Qatar Projects 2014, in a press statement yesterday.
O’ Sullivan said that the bulk of contract came from the multi-billion-dollar tunnelling packages awarded as part of the Doha metro project.
“We have structured the programme in 2014 in a way that will help attendees learn directly from senior decision-makers about the upcoming project opportunities in Qatar as well as address key challenges and achievements made thus far,” he said.
Supported by the Public Works Authority (Ashghal), the three-day conference will feature over 90 speakers and two dedicated streams, focusing on commercial opportunities emerging from Qatar’s infrastructure and transportation and the oil, gas, power and water sectors. Conference attendees will hear the latest details on projects to be awarded over the next five years and the stakeholder’s plans towards fulfilling Qatar’s National Vision 2030 (QNV-2030).
The keynote address will be delivered by the Governor of Qatar Central Bank, H E Sheikh Abdulla Saoud Al Thani, while Ali Al Kuwari, Acting Group CEO of Qatar National Bank is the designated Headline Speaker.
Other experts invited to speak at the event include from the Ministry of Municipality and Urban Planning, New Doha International Airport (NDIA), QNB, Manateq, Supreme Council of Health, Hamad Medical Corporation, ExxonMobil Research Center, Qatar Exchange, Nakilat, Total, Oryx GTL, Schlumberger and TNO Qatar. These speakers will present project commercial opportunities tied to Qatar’s massive road, ports, rail, construction and social infrastructure plan worth over QR226.5bn ($62.2bn).
After having successfully completed its 20-year investment programme to develop its natural gas resources in 2011, becoming one of the world’s most important energy producers, Qatar has embarked on an infrastructure investment programme in its non-oil and gas sectors driven by the QNV-2030.