Saudi Arabia holds the lion’s share of investment value in the region, due to the $100bn King Abdullah City of Atomic and Renewable Energy, which begins construction in 2013. The Kingdom also has a further 15 projects worth nearly $9bn currently underway, or due to begin in 2012.
Underlining huge opportunities for energy sector manufacturers and service providers within the region and worldwide, the scale of development in the Middle East is highlighted by figures collated by market research specialist Ventures Middle East ahead of Middle East Electricity, taking place from 7-9 February at the Dubai International Convention & Exhibition Centre.
Featuring more than 1,000 exhibitors, Middle East Electricity is the world’s leading energy event that focuses on power, lighting, renewable, nuclear and water sectors.
Qatar recently announced plans to build at least eight power and water facilities worth $4.8bn in the next three years, including the $3bn Qatar Facility D power project, which is slated have construction started on in 2012.
Meanwhile Bahrain has four projects currently ongoing worth $4.2bn; Kuwait has 17 projects valued at $4bn, while Oman has put aside $2.9bn for 13 new power, water and energy projects which will begin construction in 2012.
Anita Mathews, Middle East Electricity Exhibition Director said in the build up to the event: “According to the World Energy Council, the GCC will require 100 GW of additional power over the next 10 years to meet growing demand. The power sector will require $50bn worth of investments in new power generating capacity and $20bn in desalination.
“In response, new contractor awards in the power, water and renewable energy sectors are being announced every month in the Middle East, as seen in December last year, when six new contractor awards were announced in Kuwait, Qatar and Iraq, valued at $1.5bn, while in January this year, five new contractor awards worth $130m were announced in UAE, Kuwait, and Oman.
“This too is reflected in exhibitor space occupied at Middle East Electricity 2012, which has exceeded last year’s occupied space by 15%. We have also seen growth in exhibitor numbers and expect more than 15,000 unique visitors to attend the three-day event.”
Elsewhere in the Middle East, Jordan has nine projects predominantly in the water sector worth $6.1bn set to begin construction in 2012, while Morocco looks to make the most of its natural abundance of wind resources, earmarking $3.8bn worth of renewable energy projects over the next two years.
At the same time, Egypt and Iraq continue to move forward with power infrastructure plans as both countries commit $5.3bn each to new projects over the next two years.
Organised by Informa Exhibitions, Middle East Electricity is under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.
A new feature for the 37th edition of the event is the Middle East Electricity Awards, established to recognise outstanding achievements of individuals, departments, teams or organisations that have contributed to the growth and development of the energy industry in the Middle East.
Other highlights of the event include the free-to-attend technical seminars, where a selection of exhibitors will present latest innovations and products to visitors on the over the three days on the show floor.
Middle East Electricity 2012 is the partner event to Power + Water Middle East in Abu Dhabi and Africa Electricity in Johannesburg.
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