RELATED ARTICLES: Qatar to launch infra projects worth $65bn l Larsen & Toubro wins $600mn Qatar road contract l New real estate laws for Qatari developers Qatar’s central bank governor has revealed the government is expected to sign contracts for construction projects worth as much as $50bn this year. According to the official news agency QNA, Sheikh Abdullah bin Saud al-Thani said the projects will be in transport, energy and other sectors as Qatar builds the infrastructure needed to host the World Cup in 2022. Although exact details of the contracts were not given by Sheikh Abdullah, it is understood spending on infrastructure is to be ramped up this year. In the fiscal year that ended last March, actual government spending rose only 2.2%, undershooting the budget plan for the first time since 1990. But a planning ministry report at the end of last year said state spending would climb 11.6% in 2014. In 2013, among other project awards, Qatar signed four design-and-build contracts worth approximately $8.2 billion for phase one of the Doha Metro. Its new airport, which cost around $15 billion to construct, is expected to open for commercial operations later this year.
Posted on: Thu, 20 Mar 2014 03:57:44 +0000
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