Mideast energy projects spend to hit $180 billion
New power, water, and energy projects valued at $180 billion are planned in the Middle East, as the UAE forges ahead with 20 projects worth $34.2 billion, said the organisers of an upcoming energy event in Dubai.
Featuring more than 1,000 exhibitors, Middle East Electricity will take place from February 7 to 9 at the Dubai International Convention & Exhibition Centre. According to the World Energy Council, the GCC will require 100 GW of additional power over the next 10 years to meet growing demand.
The power sector will require US $50 billion worth of investments in new power generating capacity and $20 billion in desalination,” said Anita Mathews, Middle East Electricity exhibition director. “In response, new contractor awards in the power, water and renewable energy sectors are being announced every month in the Middle East, as seen in December last year, when six new contractor awards were announced in Kuwait, Qatar and Iraq, valued at $1.5 billion, while in January this year, five new contractor awards worth $130 million were announced in UAE, Kuwait, and Oman.” “This too is reflected in exhibitor space occupied at Middle East Electricity 2012, which has exceeded last year’s occupied space by 15 percent.
We have also seen growth in exhibitor numbers and expect more than 15,000 unique visitors to attend the three-day event,” she added. 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 percent 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.
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 D power project, which is slated to 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 under the patronage of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.
A new feature for the 37th edition of the event is the Middle East Electricity Awards, established to recognise outstanding achievements of individuals, departments, teams or organisations that have contributed to the growth and development of the energy industry in the Middle East. Other highlights of the event include the free-to-attend technical seminars, where a selection of exhibitors will present latest innovations and products to visitors on the over the three days on the show floor. Middle East Electricity 2012 is the partner event to Power + Water Middle East in Abu Dhabi and Africa Electricity in Johannesburg.
- UAE residents spend equivalent of 45% annual food bill on consumer technology
- Mideast telecom investments hit $34 billion in 2000
- Why Saudi is spending $29 billion on water, renewable energy infrastructure projects
- Qatar's GDP set to hit US$ 70 billion by 2010
- Morocco: Meditel investments hit over US$2.2 billion