Whopping $80bln for projects in western Abu Dhabi
The value of announced projects in Abu Dhabi’s Western Region is Dh295 billion, a top-ranking Abu Dhabi government official told reporters on the sidelines of Al Gharbia Development Forum in the capital, an event aimed to draw new investors to the region.
“These projects include oil and gas, petrochemicals, railway, highways, nuclear plants and desalination plants,” said Mohammad Ebrahim Al Hosani, Director - Regional Development Division, Western Region Development Council (WRDC).
Al Gharbia represents 60 per cent of Abu Dhabi’s land mass and contributes 40 per cent to Abu Dhabi emirate’s gross domestic product (GDP).
The Abu Dhabi Executive Council recently allocated Dh330 billion for the implementation of major development projects over the next five years in the emirate of Abu Dhabi, a good part of which would be invested towards the development of the Western Region.
The WRDC is encouraging the private sector to consider Al Gharbia as its next investment destination. It has identified a number of key non-oil sectors to drive economic growth and development in the Western Region.
The move is in line with the Council’s efforts to promote economic diversification given Al Gharbia’s current reliance on the oil and gas sector.
The region boasts a number of oil-related projects, with the UAE’s civil nuclear energy programme in Barakah being another very prominent project.
The nuclear power reactors in Barakah envision a goal of meeting 25 per cent of the emirate’s power requirements from nuclear energy by 2020.
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