Project exports promotion council of india
Gulf to spend trillion on construction projects by 2030
Download 0.94 Mb.Page 19/24 Date 20.10.2016 Size 0.94 Mb. #5378
|
Download 0.94 Mb.
|
Gulf to spend $1 trillion on construction projects by 203028 January 2014, By Andrew Roscoe Nearly half of the $1 trillion investment will be spent on megacity developments The GCC and Iraq are set to spend $1 trillion on new construction projects by 2030, MEED’s Destination Dubai 2020 conference has been told. Terry Tommason, partner and head of property and infrastructure in the Gulf at the UK-based EC Harris, told the event that 100 major construction programmes were planned to be started by 2030 in the Middle East, which will require $1 trillion of investment. Tommason says that 73 per cent of the major new construction programmes planned are worth $10bn-plus. Around $430bn-worth of those programmes, nearly half of the total value of projects planned, will be for megacity developments, such as the planned Mohammed bin Rashid City in Dubai.
Nearly half of the $1 trillion investment will be spent on megacity developments The GCC and Iraq are set to spend $1 trillion on new construction projects by 2030, MEED’s Destination Dubai 2020 conference has been told. Terry Tommason, partner and head of property and infrastructure in the Gulf at the UK-based EC Harris, told the event that 100 major construction programmes were planned to be started by 2030 in the Middle East, which will require $1 trillion of investment. Tommason says that 73 per cent of the major new construction programmes planned are worth $10bn-plus. Around $430bn-worth of those programmes, nearly half of the total value of projects planned, will be for megacity developments, such as the planned Mohammed bin Rashid City in Dubai.
Five new lay-bys to be built in the emirate The Abu Dhabi municipality is inviting bids from private investors for the first project to be tendered in a series of highway rest area schemes. The first lay-by will be located in Ghantoot and is aimed at improving services and amenities for road users in areas where there is currently a high volume of traffic and limited services to meet demand. The municipality plans to develop a strategic network of rest areas in the capital, which will provide enhanced amenities and services for road users, and improve road safety on major routes. The authority has identified five strategic locations that will benefit from the improved services. The rest areas will be delivered using private investment, through a build-operate-transfer (BOT) framework model. Design concepts for the new motorway lay-bys are based on similar best-practice examples adopted on major roads in both Europe and the US, in an effort to achieve the highest international standards. The deadline for bids is 25 February. Qatar awards seven road, infrastructure development contracts14 January 2014 Public Works Authority of Qatar, Ashghal has awarded seven contracts worth QR10.18billion ($2.74billion) under the Expressway programme and the Roads & infrastructure projects in local areas Programme (LRDP). The projects included three contracts belonging to the Expressway Programme worth QR7.71billion ($2.11 billion), while two contracts were signed for the construction and development of roads under Al-Rayyan roads programme. Al-Rayyan road project involves construction of roads west of the New Rayyan Roundabout to the east of Bani Hajer Roundabout, as well as a deal for construction and development of roads from west of the Olympic Roundabout to west of the New Al Rayyan Roundabout. Third contract involves designing and construction of phase 1 of the New Orbital Highway spanning about 45 kilometre of the 180 kilometre long highway. Ashghal has also signed four contracts for the development of roads and infrastructure in local areas that involve construction of infrastructure for the Commercial Street in Al-Khor as well as a first package for the infrastructure development of the Industrial Area. The project involves construction of infrastructure for North and East Al Kheesa (Rawdat Al Hamama area) and first package for development of infrastructure in Rawdat Abal Heeran area.
The CAPA report says that airport projects worth $115 billion are being planned or in progress in Asia with China taking the lead in construction. Sixty nine regional airports are under construction in China and will be complete by 2015. Other countries showing fast growth are Oman, Saudi Arabia and Turkey. Other cities in India's neighbourhood like Dubai and Singapore which look up to India as important source markets are also investing heavily in airports. Singapore is planning a fifth terminal for Changi airport (fourth terminal will be complete by 2017) to increase airport capacity to 135 million passengers per annum by mid-2020s. Dubai is executing $34 billion Dubai World Central project which will involve construction of five runways and capacity to handle 160 million passengers a year. According to the CAPA report airport projects valuing $4.9 billion are underway or in planning in India. The largest project is Mumbai airport modernisation project valued over Rs 12,000 crore. CAPA has used conversion rate at 50 to a dollar and pegged the project cost at $ 2.6 billion. The much delayed Navi Mumbai airport pegged at $ 2.3 billion (Rs 14,000 crore) gets a mention though it still remains mired in uncertainty. "There is no large capital expenditure in airport projects in India. The modernisation of 35 non metro airports by Airport Authority of India is complete. Mumbai's airport's T2 too is complete. Uncertainty surrounds Navi Mumbai airport,'' said Kapil Kaul, CEO (South Asia) of CAPA. "It is difficult even in best case scenario to see the second airport opening before the current Mumbai airport reaches saturation,'' the CAPA report noted. According to experts reasons for India lagging behind airport development are two fold - the small nature of India's civil aviation market and financial difficulties of Indian airlines which has hindered their growth and limited their expansion. "For a country with 1.2 billion people the aviation market is small with just 61 million passengers last year. Much of the market is concentrated in six cities (Mumbai, Delhi, Kolkata, Chennai, Bangalore and Hyderabad) which account for 70% of domestic traffic. The remaining 30% traffic is shared by other 100 odd airports in the country,'' said aviation expert Hormuz Mama. According to him the other reason hindering airport development in country is that financial condition of airlines is pathetic and they are uncompetitive. " Today you see foreign airlines picking up traffic from India. India is the biggest market for Emirates and second biggest for British Airways after the US,'' he added. Experts also point out that growth in traffic has been slower than expected in regional and tier II airports making operations unprofitable. "An airport can not be viable until it gets a good throughput. The cost of running an airport are high. In rural airports where Central Industrial Security Force is not deployed the state police provides security. The security cost is high and can work out to around a crore rupees a year,'' said a former executive director of Airport Authority of India. Directory: uploads uploads -> 587 Return function, r i(X) r i(0) r i(1) r i(2) r i(3) 1 0 2 4 6 Thermal Station, I 2 0 1 5 6 3 0 3 5 6 10 uploads -> Department of science and humanities department of mathematics part-a questions and answers uploads -> The Case Against the nypd’s Quota-Driven ‘Broken Windows’ Policing What Is It? uploads -> For want of a nail uploads -> Ownership Models There are two different types of ownership models uploads -> Police Militarization uploads -> City of rising star regular meting thursday, july 14, 2016 uploads -> Township of winfield uploads -> Stop Militarizing Law Enforcement Act of 2014 uploads -> The Black Panther Party’s Ten-Point Program What We Want Now! Download 0.94 Mb. Share with your friends:
|