Qatar plans $13bn infrastructure spend
01 January 2017
Qatar is set to pump in about QR46 billion ($13 billion) on mega infrastructure projects in the country in 2017 with a major focus on projects related to the Fifa World Cup 2022, said a report.
The move comes as part of its strategy to achieve sustainable development and economic diversification and reach its target of 3.4 per cent growth in 2017, reported Gulf Times, citing the country’s finance minister.
These new investments will also cover other sectors like education, healthcare and transportation, Ali Sherif Al Emadi was quoted as saying in the report.
He was speaking at the Euromoney conference last month (December) in Doha. “Qatar is forecast to reach an annual growth rate of 3.4 per cent in 2017, which is the highest forecast growth in the GCC region,” the finance minister stated.
The World Cup event is seen as a main driver behind the country’s growth and the reason it did not suffer as severe a slowdown as some of its GCC neighbours.
Al Emadi also pointed out the country’s non-oil sector grew by 5.8 per cent this year, the report added.
- Tenders issued for $1bn medical city
- Hill in PM deal for Al Wa’ab City
- Doha metro work 50pc completed
- Work on new Bahrain-Saudi causeway ‘on track’
- Built assets to bring $152bn to Qatar
- GCC projects market contracts value falls
- Doha sewage job set for 2019 completion
- Kuwait metro study complete
- Hempel to open new Kuwait factory in Q1
- Kuwait completes $1.7bn plant
- Almeer Trading set for expansion
- Contractor picked for Lusail stadium
- Qatar plans $13bn infrastructure spend
- Kuwait launches $775m centre
- In brief
