The continuing high price of oil will fuel double-digit growth in the region’s infrastructure industry, says a report.

One in every three dollars over the next five years will be spent in this sector, according to leading waste and water management company Septech.

The news comes on the back of figures that reveal that the Gulf states’ infrastructure industry has grown by a phenomenal 88 per cent over the last year alone. 

Vice-president of corporate development at Septech Ashruf Kamel said the region’s continued economic boom has led to revised growth predictions. “Over the past several years, regional infrastructure growth estimates have increased dramatically from $277 billion in 2004, to the current figure of $1.4 trillion,” he said.

“In addition to the soaring economy, another factor that explains this phenomenal rise is that the definition of what constitutes infrastructure has expanded and now includes educational and healthcare, as well as telecommunications,” he added.  

The exponential rate of growth in this area has seen companies such as Septech capitalising on the opportunities that have been presented to them. The company has been operating in the GCC for the past 11 years and has become firmly established for its product offerings in water and wastewater management; with particular expertise in reverse osmosis, desalination, network management, DBOOT schemes, and the assessment, handling and maintenance of municipal and industrial water operations.

“Septech’s industry expansion has equally matched the infrastructure industry’s growth and has shown a spectacular increase, with our company figures showing an excess of 200per cent revenue growth since 2006 and a 42 per cent increase in management and labour force employed,” said Kamel.

Septech’s portfolio of services has been enhanced by the UAE government’s initiative to promote sustainable and ecologically friendly projects, with Dubai being the first MENA city to enforce strict international environmental standards on all new building projects from the beginning of this year.

To help meet this challenge, Septech has been developing and implementing sustainable water and power systems for the past 15 months to satisfy the mandates of the UAE rulers and the country’s sustainable awareness committees.

Septech’s research and development department has also been developing renewable energy solutions, in line with the UAE’s commitment to sustaining its position in the Kyoto Agreement and becoming globally recognised as an environmentally aware economy, added Kamel.- TradeArabia News Service