Qatar: 2022 World Cup construction gets another $30B injection

Qatar: 2022 World Cup construction gets another $30B injection
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Published October 1st, 2015 - 10:56 GMT via SyndiGate.info

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Construction for the 2022 World Cup in Qatar has been mired in controversy. (Shutterstock)
Construction for the 2022 World Cup in Qatar has been mired in controversy. (Shutterstock)
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Qatar is set to award fresh infrastructure contracts worth $30 billion next year as part of its ongoing preparations for the FIFA World Cup 2022, said a report.

The scale of investment relative to the size of the country, and the looming deadline of the 2022 World Cup, is challenging, reported the Gulf Times.

But the authorities are well aware of the issues, including the risks of overheating, over-spending and poor yielding investments, and are looking to set up appropriate timelines and management processes, said the report citing a study by Saudi bank Samba.

Qatar's projects market is expected to be crowded even in 2016 as the country gears up for the globe's biggest sporting event.

About $135 billion worth of contracts are due to be awarded over the next five years across the country, the report stated.

While elevated project activity will bring widespread opportunities, including for banks, Samba said there were worries about implementation constrains, given the vast amount of resources needed to undergo such projects.

According to Samba, the government's investment programme would be one of the "key determinants" of economic performance over the medium-term, the report added.

Copyright 2015 Al Hilal Publishing and Marketing Group

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