Sunday, December 17, 2017

Abu Dhabi funding of Bahrain projects hits $2.85bn

The Abu Dhabi Fund for Development (ADFD) has allocated to date a total of Dh10.5 billion ($2.85 billion) in government grants to Bahrain to 26 development projects in Bahrain.

Serving key infrastructure sectors, including housing, water, healthcare, and transportation, the projects funded by ADFD in Bahrain aim to support the ongoing efforts of the Bahraini government to fulfill the country’s sustainable development objectives.

A technical delegation from ADFD visited Bahrain to review the progress of the development projects financed by the fund in the country and noted that some of the projects are currently more than 90 per cent complete, while work is in full swing to deliver the remaining projects on schedule.

Mohammed Saif Al Suwaidi, director general of Abu Dhabi Fund for Development (ADFD), said: "ADFD and the Government of Bahrain enjoy long-standing and strong historic ties that date back over four decades. We have worked together to achieve the kingdom’s sustainable development goals across a broad spectrum of economic sectors.”

He added: “The GCC development programme for Bahrain, commissioned in 2013, is a sustainable model of development support extended by the UAE to Bahrain managed by ADFD. During its recent visit to Bahrain, our technical delegation reviewed the phases of completion of various projects and discussed and coordinated the work flow with officials from different government entities there.”

The updates from various projects received during the delegation’s visit include:

Housing Units in the Northern City
The technical delegation inspected the progress of work at the Dh2.5 billion ($680.6 million) project that is taking shape in two phases in the Northern City - including the construction of 2,694 housing units, and the city's infrastructure works.

The project – with a large portion of infrastructure works already completed - aims to support the housing sector through developing new areas in providing quality housing units to the Bahraini population.

Reclamation Works - Eastern Sitra Housing Project
The delegation also visited the Eastern Sitra Housing Project that is being developed through land reclamation for residential and other social services. Once complete, the project will deliver 4,500 housing units valued at around Dh900 million ($245 million).

Encompassing the excavation and reclamation of an area spanning 800 hectares, the project includes the dredging of 24 million-sq-m of soil to prepare the landbank for the new housing projects.

In addition, this project will contribute to the provision of much-needed infrastructure in the region, through enabling the construction of several bridges and roads leading to the Northern City. Infrastructure works also include the construction of public utility networks such as electricity and water transmission stations among other social and residential facilities. With construction registering 90 per cent completion, the project is slated for handover by end-2017.

Sewage Treatment Project
The ADFD technical delegation also visited the Sewage Treatment Project in the Northern City of Bahrain, spanning an area of 640 hectares to collect sewage, transfer it to a treatment facility, and use treated sewage to irrigate agricultural areas surrounding more than 15,600 housing units in the Northern City.

More than 90 per cent of the Dh440 million (US$119.7 million) project has been completed to date. This project aims to serve the Northern City and optimise water resources through preserving the surrounding region and providing a healthy environment for the residents of the Northern City. The project is anticipated to be complete by Q2 2018.

Bahrain International Airport Expansion Project
Funded by ADFD, the expansion of Bahrain International Airport to accommodate more than 14 million arriving passengers valued at Dh3.7 billion ($1 billion) is also part of the ADFD-funded infrastructure projects in Bahrain. Following the visit, the delegation reported that this project was nearly 40 per cent complete, with phase one slated for handover by Q2 2019.

The project aims to support the Bahraini aviation sector and translate a positive impact on related sectors such as tourism, trade and transportation.

The project includes the addition of a new terminal spanning a total area of 177,000-sq-m. The new terminal will include lounges, gates, airline offices, duty free retail outlets and a transit hotel. In addition, support systems for on-ground services and related facilities are also within the scope of the project.

Expansion of Sheikh Zayed Road
The delegation visited and inspected expansionary works valued at Dh330 million ($89.8 million) on Sheikh Zayed Road that is being constructed in line with best international standards.

As one of the Bahraini government's strategic projects, the expansionary works will increase capacity on the road to 50,000 vehicles per day, easing traffic congestion and further enhancing the transport sector.

Cardiac Centre
The delegation also visited the site of the Dh550 million ($149.7 million) Mohammed Bin Khalifa Specialist Cardiac Centre, where 95 per cent of the construction works are complete, with the project handover set for Q2 2018.

The cardiac centre will boost diagnosis and treatment of heart diseases in the region, and is set to feature cutting-edge medical equipment, significantly stepping up the capabilities of Bahrain's health sector.

Development of a water supply network
Funded by ADFD with a total value of Dh183 million ($49.8 million), the delegation confirmed that the water supply network project is currently 75 per cent complete and set for handover in Q2 2018.

The project consists of building two water storage and pumping stations in the Juffair and Busaytin areas that will support and develop the water sector and raise capacity to meet the growing water demand in Bahrain. - TradeArabia News Service

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