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Qatar infrastructure spend seen rising in 2014-16

DUBAI, September 10, 2014

Qatar's spending on infrastructure in the run-up to the 2022 World Cup will pick up in 2014-16, a report said, adding that a number of major projects now under way are to be completed before the soccer event.

The projects include the $45-billion Lusail real estate development and the $40-billion Qatar Rail project, said the Gulf Times report, citing a Qatar National Bank (QNB) economic update.

"We estimate that project spending grew at a rate of 46 per cent from 2000-2008. The growth was mainly driven by the expansion of LNG export facilities. Infrastructure projects have driven most of the growth in the non-hydrocarbon sector, averaging 15.3 per cent during 2000-08. Growth in investment spending eased in 2009-2011 as the LNG expansion programme was completed," QNB was quoted in the report.

Construction and transport projects account for 78.6 per cent of the developments currently under way, the report said.

Oil and gas, however, make up for only 9.7 per cent of the projects sector over the next 10 years, according to the report.
 




Tags: Infrastructure | Fifa World Cup |

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