Times of Oman reported that new electricity, water and energy projects valued at USD 180 billion are underway or in the planning stages in the Middle East with Oman announcing major projects in the last 7 months worth USD 2.9 billion.
Spearheaded by the USD 1.6 billion Sur Independent Power Plant with construction slated to start in 2012, the Sultanate plans to build at least 13 projects in the next 2 years at a time when power demand across all Gulf Cooperation Council states is expected to grow 8% to10% annually.
Saudi Arabia holds the lion's share of investment value in the region due to the USD 100 billion King Abdullah City of Atomic and Renewable Energy, which begins construction in 2013. The kingdom also has a further 15 projects worth nearly USD 9 billion currently underway or due to begin in 2012.
1. Exhibition;
Underlining huge opportunities for energy sector manufacturers and service providers within the region and worldwide, the scale of development in the Middle East is highlighted by figures collated by market research specialist Ventures Middle East ahead of Middle East Electricity, taking place between February 7th and 9th 2012 at the Dubai International Convention & Exhibition Centre.
Featuring more than 1,000 exhibitors, Middle East Electricity is the world's leading energy event that focuses on power, lighting, renewable, nuclear and water sectors. The UAE will bone of the most active markets in the power, water and energy sectors over the next 2 years with 20 new projects worth USD 34.2 billion in the pipeline, led by the USD 20 billion Nuclear Power Plant in Abu Dhabi which began construction late in 2011.
2. Power demand in GCC;
Bahrain has four projects currently ongoing worth USD 4.2 billion; Qatar has eight projects valued at USD 4.8 billion while Kuwait has put aside USD 4 billion for 17 new power, water and energy projects which will begin construction in 2012.
Ms Anita Mathews exhibition director of Middle East Electricity said that "According to the World Energy Council, the GCC will require 100GW of additional power over the next ten years to meet growing demand. The power sector will require USD 50 billion worth of investments in new power generating capacity and USD 20 billion in desalination."
Ms Anita said that "In response, new contractor awards in the power, water and renewable energy sectors are being announced every month in the Middle East, as seen in December last year, when 6 new contractor awards were announced in Kuwait, Qatar and Iraq, valued at USD 1.5 billion while in January this year, five new contractor awards worth USD 130 million were announced in UAE, Kuwait and Oman."
3. Jordan and Morocco;
Ms Anita Mathews said that "This too is reflected in exhibitor space occupied at Middle East Electricity 2012 which has exceeded last year's occupied space by 15%. We have also seen growth in exhibitor numbers and expect more than 15,000 unique visitors to attend the 3 day event."
(Sourced from Times of Oman)
