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GCC construction contractor awards for new power, water projects tipped to value US$32.4 billion in 2013
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| 9 Dec 2012 |
A fresh flow of GCC construction contractor awards for new power and water projects are on the grid and expected to be worth $US32.4 billion in 2013, according to the latest GCC Power and Desalination Report from research firm Ventures Middle East.
After a lull in 2011 amid uncertain economic conditions and political apprehensions across the wider MENA region, the power and water sector is back on track, as GCC annual electricity demand grows from 10 -15% annually and regional governments scramble to catch up.
With power demand in the region set to triple over the next 25 years, infrastructure developments backed by governments and Public Private Partnerships (PPPs) are surging ahead, providing perfect business opportunities for global energy sector players at one of the industry’s largest events, Middle East Electricity, taking place from 17-19 February 2013, at the Dubai International Exhibition and Convention Centre.
GCC construction contractor awards for new power and water projects are expected to be worth $US32.4 billion in 2013, providing impressive business opportunities for exhibitors and visitors at Middle East Electricity.
More than 1,000 exhibitors from 58 countries involved in the power, lighting, renewable and nuclear sectors will be out in force at the three-day event, held under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.
Anita Mathews, Exhibition Director of Middle East Electricity said: “The GCC region will require an additional 60 Gigawatts of power capacity by 2015, and the coming years are likely to witness a substantial improvement in the development of regional utility infrastructure.”
“Rapidly increasing population and expanding commercial, industrial, and residential sectors will ensure that regional demand for electricity and water will continue unabated, and the timing is perfect for international companies to showcase their products and services to a proven audience of key decision makers at Middle East Electricity.”
According to the Venture’s report, most of the power and water project activity for 2013 is expected in Saudi Arabia, which will see US$17 billion worth of new contracts awarded, followed by the UAE and Kuwait, which are both expected to sign off on brand new contracts totaling US$4.2 billion each.
In Qatar, power and water contracts worth US$3.2 billion are expected in 2013, tailed closely by Oman with US$2.7 billion worth of contracts, with Bahrain rounding off the figures with US$1.1 billion of fresh contract awards for the year.
Now in its 38th edition and organised by Informa Exhibitions, Middle East Electricity is the largest and longest-running energy event in the Middle East, attracting more than 15,000 visitors from 120 countries every year.
The three-day event is co-located with the inaugural edition of Solar Middle East, a dedicated platform for the burgeoning regional solar industry, and set to become largest gathering of solar technology suppliers ever seen in the Mid East.
Middle East Electricity returns with the popular Middle East Electricity Awards, an extended programme of technical seminars, and is partnered with Power + Water Middle East in Abu Dhabi, Power Nigeria in Abuja and Africa Electricity in Johannesburg.
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