Qatar Construction Projects top $22bn in few years
Construction projects in Qatar will top QAR80bn ($22 bn) within the next few years when a number of large-scale projects are expected to be completed, acting general director of Qatar’s Public Works Authority (Ashghal) Ahmad Sultan al-Kawari said.
According to Qatar-based Gulf Organisation for Industrial Consulting (GOIC), construction sector accounts for 10 pct of the country’s gross domestic products (GDP).
The construction of Qatar’s new international airport will cost QAR20bn (US$5.5bn). New city developments, such as Pearl Qatar, will exceed QAR10bn (US$2.75bn).
Ashghal’s five year plan stipulates works for about 31 bln riyals ($8.5 bln/6.7 bln euro), including the construction of infrastructure projects, roads, junctions and bridges.
The main problem faced by investors is securing the necessary building materials. According to GOIC, the world’s building materials production was worth $710 bln (558.84 bln euro) in 2004, of which Asian and Pacific countries account for 34.5 pct, or $245.1 bln (192.92 bln euro). Qatar’s building materials industry cannot meet local demand and the government is forced to seek ways to stimulate import.
Qatar National Cement Company (QNCC) plans to increase its production capacity to 11,900tpd clinker and 15,500tpd cement in three years and in order to meet local demand.
Published under Cement News
