GCC construction contractor awards for new power, water projects tipped to value $32.4bn in 2013
- United Arab Emirates: Sunday, December 09 - 2012 at 16:11
- PRESS RELEASE
A fresh flow of GCC construction contractor awards for new power and water projects are on the grid and expected to be worth $32.4bn in 2013, according to the latest GCC Power and Desalination Report from research firm Ventures Middle East.
With power demand in the region set to triple over the next 25 years, infrastructure developments backed by governments and Public Private Partnerships (PPPs) are surging ahead, providing perfect business opportunities for global energy sector players at one of the industry's largest events, Middle East Electricity, taking place from 17-19 February 2013, at the Dubai International Exhibition and Convention Centre.
More than 1,000 exhibitors from 58 countries involved in the power, lighting, renewable and nuclear sectors will be out in force at the three-day event, held under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.
Anita Mathews, Exhibition Director of Middle East Electricity, said, "The GCC region will require an additional 60 Gigawatts of power capacity by 2015, and the coming years are likely to witness a substantial improvement in the development of regional utility infrastructure."
"Rapidly increasing population and expanding commercial, industrial, and residential sectors will ensure that regional demand for electricity and water will continue unabated, and the timing is perfect for international companies to showcase their products and services to a proven audience of key decision makers at Middle East Electricity," she added.
According to the Venture's report, most of the power and water project activity for 2013 is expected in Saudi Arabia, which will see $17bn worth of new contracts awarded, followed by the UAE and Kuwait, which are both expected to sign off on brand new contracts totaling $4.2bn each.
In Qatar, power and water contracts worth $3.2bn are expected in 2013, tailed closely by Oman with $2.7bn worth of contracts, with Bahrain rounding off the figures with $1.1bn of fresh contract awards for the year.
Now in its 38th edition and organised by Informa Exhibitions, Middle East Electricity is the largest and longest-running energy event in the Middle East, attracting more than 15,000 visitors from 120 countries every year.
The three-day event is co-located with the inaugural edition of Solar Middle East, a dedicated platform for the burgeoning regional solar industry, and set to become largest gathering of solar technology suppliers ever seen in the Mid East.
Middle East Electricity returns with the popular Middle East Electricity Awards, an extended programme of technical seminars, and is partnered with Power + Water Middle East in Abu Dhabi, Power Nigeria in Abuja and Africa Electricity in Johannesburg.
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