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FINANCIAL NEWS
GCC carries out USD121.3b worth of infrastructure projects
24 Sep 2012
(MENAFN) Informa Exhibitions’ latest report shows that countries in the Gulf Cooperation Council (GCC) are carrying out USD121.3 billion worth of infrastructure projects at the current time, reported Arab News.
The report, issued by the organizer of Gulf Traffic, which takes place from Nov. 19-21 at Abu Dhabi National Exhibition Centre (ADNEC), revealed that the UAE has USD58 billion worth of road and bridge projects planned or on the move.
Next comes Saudi Arabia, with USD26.9 billion worth of projects to improve the Kingdom’s transport infrastructure over the coming 5 years.
Furthermore, USD17 billion worth of road projects are taking place in Qatar, which prepares its expansive transport network ahead of the Football World Cup in 2022.
Kuwait has allocated USD9 billion for road projects in the coming 2 years, followed by Oman, which earmarked USD8 billion for several infrastructure projects, while Bahrain allotted USD2 billion.
It is worth noting that Gulf Traffic runs every two years in Abu Dhabi, and is the only dedicated event for the road, public transport and parking sectors. It brings together over 100 exhibitors involved in the design, build, and maintenance of the region’s road, rail, parking and public transport projects.
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