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BNC Forecasts Future Growth in Construction Based on Massive Investments in Utilities
Utilities sector to be the key growth driver in 2017
Dubai, United Arab Emirates -Tuesday, February 28th 2017 [ ME NewsWire ]
401 active projects in UAE’s utilities sector valued at USD 83.5 billion
The number of utility projects increased by 2% in January, 2017
As per BNC Construction Analytics, with the recent announcement of new projects, the number of ongoing utility projects increased by 2% in January, 2017 as compared to December, 2016, even after considering the recent completion of 12 utility projects, that have a combined estimated value of around USD 87 million.
As per BNC’s January 2017 Utilities Report there are currently 401 active projects in the UAE’s utility sector, with an estimated value of USD 83.5 billion. The utilities sector constitutes 4% of the number of active construction projects and 11% of the total estimated value of ongoing construction.
BNC Project Intelligence identified four major utility projects with a combined estimated value of approximately USD 175 million that were awarded in January. The largest of these was a District Cooling Plant worth USD 150 million for the National Food Products Company located in Khalifa Industrial Zone.
"The UAE has always shown exceptional foresight. The significant ongoing investment in the power sector is one of the best indicators of an aggressive development plan in the years ahead." said Avin Gidwani, CEO, Industry Networks.
In addition to the Nuclear Power Plants, notable multi-billion dollar utility projects under construction include Hassyan Coal Fired Power Plants, an Independent Water & Power Plant (IWPP) located at Mirfa and Mohammad Bin Rashid Al Maktoum Solar Park.
BNC (Business News for Construction) is used by thousands of business leaders and construction professionals around the world to track developments, gain insight on projects and do business. Its key role is to track projects from concept to completion and offer comprehensive information on property developers, consultants, contractors, sub-contractors and suppliers involved with a project. BNC covers construction projects, across all sectors including urban construction, transportation, utilities, industrial and oil & gas. BNC is a flagship project intelligence service of Industry Networks, a leading provider of construction intelligence and informatics in the Middle East and North Africa. For more information, visit bncnetwork.net
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