Wednesday, March 1, 2017

$84bn utilities projects under way in UAE

There are currently 401 active projects in the UAE’s utility sector, with an estimated value of $84 billion, said a report.  

The utilities sector constitutes four per cent of the number of active construction projects and 11 per cent of the total estimated value of ongoing construction, according to leading project tracker BNC.

The number of ongoing utility projects increased by two per cent in January compared to December 2016, even after considering the recent completion of 12 utility projects, that have a combined estimated value of around $87 million, stated BNC in its January 2017 Utilities Report.

"The UAE has always shown exceptional foresight. The significant ongoing investment in the power sector is one of the best indicators of an aggressive development plan in the years ahead," explained Avin Gidwani, the chief executive of Industry Networks.

BNC has identified four major utility projects with a combined estimated value of $175 million that were awarded in January.

The largest of these was a district cooling plant worth $150 million for the National Food Products Company located at Khalifa Industrial Zone in Abu Dhabi, said the report.

In addition to the Nuclear Power Plants, notable multi-billion dollar utility projects under construction include Hassyan Coal Fired Power Plants, an Independent Water & Power Plant (IWPP) located at Mirfa and Mohammad Bin Rashid Al Maktoum Solar Park, it added.-TradeArabia News Service

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