$32bn power, water projects underway in Gulf
Abu Dhabi, October 15, 2011
There are 44 power and water projects in the GCC valued at $31.9 billion already underway or due to begin in 2012, said a report ahead of a major energy expo in Abu Dhabi.
The 'Power + Water Middle East exhibition and Leaders’ Forum' will run from October 16 to 18 at Abu Dhabi National Exhibition Centre (Adnec).
Abdulla Saif Al-Nuaimi, director general of Abu Dhabi Water and Electricity Authority (ADWEA) will open the expo on Sunday.
According to market research specialists Ventures Middle East, The UAE leads the way in GCC water and power projects with a total of 11 projects valued at $10 billion, including the $800 million Hassyan 1 Independent Power Plant, on which construction is slated to begin in 2012.
Saudi also has 11 new projects underway or due to start in 2012, valued at $8.6 billion, including the $2 billion Al Qurrayah Independent Power Plant (IPP), they said.
In Kuwait, ten projects are underway valued at $3.4 billion, seven of which will begin construction in 2012.
Bahrain has three projects valued at $4.1 billion, including the independent water and power plant in Al Dur, which has been ongoing since 2008.
Qatar has three projects valued at $3.3 billion, while Oman has six projects valued at $2.5 billion, all of which will begin construction in 2012.
These figures highlight the enormous opportunities for the more than 100 local and international suppliers and contractors exhibiting at Power + Water Middle East, said the organisers.
“The power sector in the GCC region has seen exponential growth ranging from 10 to 15 per cent annually in many of its member states, with demand for electrical power to triple over the next 25 years,” said Al-Nuaimi.
“Similarly, the water industry is expected to be worth $70 billion over the next ten years. Power + Water Middle East will also continue to grow significantly as the region’s leading event in the power generation and water industries,” he added.
Anita Mathews, exhibition director for Power + Water Middle East, said, “The latest developments in the power and water sectors of the GCC countries underline the fact that the region is not only one of the fastest growing but also holds the most potential of global electricity markets.”
Organised by Informa Exhibitions and presented in partnership with Adwea, the Power + Water Middle East Leaders’ forum will discuss the progress being made in the field of ‘Developing Sustainable Business Practices’.
The one-day conference, taking place on October 16 will include presentations of eminent speakers including Michael Flynn, Principal Investigator from Nasa Ames Research Center; Scott Minos, Senior Policy and Communications Specialist at the US Department of Energy; and Professor Jim Skea, Research Director of the UK Energy Research Sector.
Other highlights of the forum include presentations from leading multinational organisations such as ABB Consulting, WS Atkins, Oracle Utilities, and Alliance for Water Stewardship.-TradeArabia News Service