Future Growth in Construction Based on Massive Investments in Utilities
As per BNC Construction Analytics, with the recent announcement of new projects, the number of ongoing utility projects increased by 2% in January, 2017 as compared to December, 2016, even after considering the recent completion of 12 utility projects, that have a combined estimated value of around USD 87 million.
As per BNC’s January 2017 Utilities Report there are currently 401 active projects in the UAE’s utility sector, with an estimated value of USD 83.5 billion. The utilities sector constitutes 4% of the number of active construction projects and 11% of the total estimated value of ongoing construction.
BNC Project Intelligence identified four major utility projects with a combined estimated value of approximately USD 175 million that were awarded in January. The largest of these was a District Cooling Plant worth USD 150 million for the National Food Products Company located in Khalifa Industrial Zone.
"The UAE has always shown exceptional foresight. The significant ongoing investment in the power sector is one of the best indicators of an aggressive development plan in the years ahead." said Avin Gidwani, CEO, Industry Networks.
In addition to the Nuclear Power Plants, notable multi-billion dollar utility projects under construction include Hassyan Coal Fired Power Plants, an Independent Water & Power Plant (IWPP) located at Mirfa and Mohammad Bin Rashid Al Maktoum Solar Park.