Less-troubled waters
After years of austerity, the governments of the Gulf Cooperation Council (GCC) are adopting expansionary budgets as oil prices begin to recover, infrastructure spending ramps up and the cement sector looks forward to a brighter 2018. By Hettish Karmani, Ubhar Capital SAOC, Oman.
As Dubai plays host to the Cemtech Middle East and Africa 2017 conference and exhibition, the emirate’s construction
industry looks forward to the Dubai Expo. The UAE saw a 46.5 per cent rise in infrastructure spending in 2017,
including AED5bn related to Expo-related projects
The cement sector of the Gulf Cooperation Council (GCC) has been facing troubling times ever since the oil price crash of 2014. However, the coming years are expected to see improved demand as oil prices stabilise, giving the countries involved (Saudi Arabia, Oman, Bahrain, Qatar, UAE) extra petrodollars to complete projects that had been put on hold in previous years.
