Qatar infrastructure spending to hit $150bn
Demand for concrete to reach at least 100 million cubic metres
Spending on infrastructure in Qatar is expected to reach $150bn in the next ten years.
This was revealed at the fourth staging of the international Future Concrete Conference, organised by the Advanced Construction and Technology Services (ACTS) at the Ritz-Carlton Hotel in Dona Qatar.
In its latest report, Business Monitor International predicted that 2013-2022 average real GDP growth for Qatar is at eight per cent a year.
The report added that the country’s huge infrastructure spend is owing to the massive preparations for hosting the 2022 World Cup and in line with Qatar Vision 2030.
Projects in the pipeline include a $40bn plan for railways; a $20bn investment in roads; $15.5bn new airport project; $8bn to be spent on a deep-water seaport; $4bn for stadiums; $1bn transport corridor project in Doha; and, tens of thousands of hotel rooms to be built.
The report further said that the strong commitment of the Qatari government to develop the most iconic and environmentally-friendly projects ever built further highlights the country’s position as the most attractive business haven for investors.
The conference heard that, as a result of the number of projects, the demand for concrete in the country is expected to soar.
Khaled Awad, chairman of ACTS, said: “Expected demand on concrete in Qatar alone is at least 100 million m3 in the next eight years. This is a very important indicator about the growth of large scale construction projects undergoing in Qatar, which also represents a major challenge for industry players to comply with the required Qatari building standards and specifications.”
Undersecretary and chairman of Qatar Standards, Ministry of Environment, Dr. Mohamed Saif Al-Kuwari, delivered the keynote speech at the conference where he talked about sustainability in the construction sector and its important role towards achieving Qatar Vision 2030.