(MENAFN -Khaleej Times) more than 20 billion worth of transport projects in gcc will be awarded during 2014, with the biggest share of the projects coming out of the uae, meed projects revealed on wednesday
The emirate of abu dhabi will likely see 31 projects awarded with a total budget approaching 14 billion. dubai, in second place, has 13 projects with a total budget in excess of 2 billion. the rail sector will account for more than 60 per cent of the value of projects awarded even though it is only 14 per cent of the number of contracts up for grabs this year.
Julian herbert, director of meed projects said: “as a result of heavy investment in the construction sector during the boom years of the previous decade, the uae is in a favourable position where it can secure resources at very competitive market rates compared to its gcc neighbours.”
Meed cost indices recently published an online report to its customers indicating that the uae currently pays less for materials such as cement, concrete and rebar than its gcc neighbours. “with ample capacity and low cost resources, the uae is in an ideal position to invest in its transport infrastructure,” herbert said.
Some of the major awards expected during 2014 are phase two of etihad rail; the remaining sections of the mafraq to ghuweifat highway; infrastructure works on the capital district in abu dhabi; and infrastructure and new terminal work at the maktoum international airport. in 2013 the ghantoot group walked away with most of the work in the transport sector followed by al jaber legt engineering & contracting and larsen & toubro.
During 2014 almost 5 billion worth of contracts will be completed and handed over to their respective clients. abu dhabi has just over 2 billion of contracts due to be completed which includes lots 1 and 2 of shamkha south infrastructure works with a combined contract value in excess of 1 billion.
Dubai has 2.2 billion of contracts due to be completed this year which includes the al sufouh tram project, the rta’s parallel roads scheme 4, emirates’ skycargo terminal at maktoum international airport and the terminal 2 expansion project at dubai international airport.