Mideast injects $180 billion into new energy projects

3 February 2012

DUBAI — New power, water, and energy projects valued at $180 billion are underway or at the planning stages in the Middle East, as the UAE forges ahead with 20 projects worth $34.2 billion.

Spearheaded by the $20 billion Nuclear Power Plant in Abu Dhabi, which began construction late in 2011, the UAE will be one of the most active markets in the power, water and energy sectors over the next two years, at a time when power demand across all GCC countries is expected to grow 8 to10 per cent annually.

Saudi Arabia holds the lion’s share of investment value in the region, due to the $100 billion King Abdullah City of Atomic and Renewable Energy, which begins construction in 2013.  The Kingdom also has a further 15 projects worth nearly $9 billion currently underway, or due to begin in 2012.

Underlining huge opportunities for energy sector manufacturers and service providers within the region and worldwide, the scale of development in the Middle East is highlighted by figures collated by market research specialist Ventures Middle East ahead of Middle East Electricity, taking place from February 7 to 9 at the Dubai International Convention & Exhibition Centre.

Qatar recently announced plans to build at least eight power and water facilities worth $4.8 billion in the next three years, including the $3 billion Qatar Facility power project, which is slated have construction started on in 2012.

Meanwhile Bahrain has four projects currently ongoing worth $4.2 billion; Kuwait has 17 projects valued at $4 billion, while Oman has put aside $2.9 billion for 13 new power, water and energy projects which will begin construction in 2012.

Elsewhere in the Middle East, Jordan has nine projects predominantly in the water sector worth $6.1 billion set to begin construction in 2012, while Morocco looks to make the most of its natural abundance of wind resources, earmarking $3.8 billion worth of renewable energy projects over the next two years.

At the same time, Egypt and Iraq continue to move forward with power infrastructure plans as both countries commit $5.3 billion each to new projects over the next two years. Organised by Informa Exhibitions, Middle East Electricity is being held under the patronage of Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.

Courtesy of business@khaleejtimes.com