Rays of recovery – UAE infrastructure sector to touch USD 22 billion


Source: www.steelguru.com

Emirates Business 24/7 reported that the UAE’s infrastructure sector will grow by 3.3% this year and the industry value will reach AED 79.6 billion in 2010.

The quarterly UAE Infrastructure Report by Business Monitor International reckoned that infrastructure growth in the UAE this year will be fuelled by Abu Dhabi and to a lesser extent by transport infrastructure projects in Dubai, such as the Green Line Metro project, the Al Maktoum International Airport and the expansion of Dubai Airport.

The report said that Abu Dhabi’s nuclear power tender dominated developments in the run up to 2010.The USD 20 billion contracts will be a major driving force behind value creation for Abu Dhabi’s construction sector.

BMI said that the emirate has announced that it is planning to invest USD 15 billion in infrastructure between 2009 and 2012. The latest companies to seek an expansion outside Dubai are Drake and Skull, Al Habtoor Leighton and Arabtec. In the transport sector, Abu Dhabi also grabbed investors’ attention, as the transport authority is nearing the finish line of one of the most widely anticipated transport concessions in the region. In February 2010, three consortia were short listed for the concession to build and operate the Mafraq Ghuweifat highway. The success of this project is a litmus test.