Abu Dhabi’s project spend ‘to top $100bn’


Source:  http://www.tradearabia.com

Abu Dhabi’s project spending could balloon to over $100 billion in the next seven years, said the organisers of a major investment summit that opened in the UAE capital yesterday (December 9).

The eighth Abu Dhabi Conference 2013, set to conclude today at Westin Abu Dhabi Golf Resort and Spa, highlighted the key sectors that will receive the bulk of investments until 2020.

According to business analysis firm Meed, construction projects remain the most active with $30 billion worth of projects to be awarded in the next seven years, followed by the oil & gas sector with a project pipeline valued at $25 billion.

Transport and chemical-related projects will also see a surge in investments with a total of $20 billion contracts to be awarded during the same period. The industrial as well as power & water sectors will likewise be busy with contracts valued at $6 billion and $5 billion to be awarded until 2020. More info

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