Can Greek construction capitalise in Qatar?
Greek officials push to increase prescence in Qatari development
Following a recent press conference for Project Qatar, one of the region's largest trade shows centred around the country's burgeoning construction sector, many international dignitaries were keen to promote bilateral relations as Qatar's infrastructure development begins to pick up pace.
With an estimated $250 billion of ongoing projects combined with the woes of the EU and instability within the MENA region, many experienced companies from the construction community are convering on Qatar in order to contribute towards its Vision 2030 plans.
Speaking at the Project Qatar press conference on 12th April, H.E the Ambassador of Greece, Ms Helen Zorbala said; “Bilateral relations between Qatar and Greece are excellent in the political field and our cooperation is very fruitful and promising also in other fields. Greek construction companies are already active in Qatar and with their experience and reliability could contribute to the large ongoing public works in the country. Recognizing the dynamism of Qatari economy we are looking forward to discuss and proceed to various investment and trade opportunities.”
Following on from a visit by Greece's Vice President Theodoros Pagalos last month, Greece is aiming not just to promote Greek involvement in Qatar's development, but also attract investment into Greece for its rehabilitation. Certainly the former shows promising signs. Only last year Greek contractor CCC (Consolidated Contractors Company), won two contracts through a joint venture for highway development totalling $520m and before that Athens based GEK TERNA won a $184m deal to develop a car park and a metro station, split between Qatar and Bahrain.
Greece ios one of many countries attracted to working in Qatar, a fact reflected in Project Qatar's figures: 2083 companies are coming from 48 countries, coupled with 26 national pavillions, mean competition will be fierce as the tenders begin issue.