Qatar World Cup 2022
Qatar’s victory over the FIFA 2022 World Cup bid is likely to boost the infrastructure projects happening in the country, worth more than $100bn, based on Public-Private Partnerships (PPPs) model, said an official, representing the market research group.
Direct investments worth several billion dollars will be made in Qatar to build football stadiums and other infrastructure facilities, following announcement of awarding the FIFA 2022 World Cup hosting rights to Qatar, said Ed James, the Head of MEED (Middle East Economic Digest) Insight, when speaking during the launch of ‘The GCC Infrastructure Guide’ during a media conference here.
The guide focuses on infrastructure projects, excluding oil, gas and petrochemical sectors. The report reveals the present value of major infrastructure projects that are now under construction in Qatar, which amounts to more than $55bn, around half of the estimated $100bn to be awarded in the near future.
Health and education have been identified as major sectors for development and constitute 72 of the nearly 200 projects. About 35 of these projects are earmarked for health sector, while education has been allocated about 27 development ventures. Roads, sewage and other basic infrastructure development projects have been given the third priority with 22 projects allocated for this purpose. About 20 projects have been earmarked towards economic diversification and aims to boost the private sector. There are 11 environment-related projects, while 10 are linked to social security schemes.
The build-up to the World Cup will give added momentum and push ahead the time frame of these projects, said James.
The Acting CEO of the QFC Authority, Shashank Srivastava, mentioned that given Qatar’s pivotal role as leading investor in infrastructure expansion in the region, and the growing importance of the PPP model, the Authority is happy to partner with MEED in publishing this key reference tool.
Further, the rise in capital spending has helped Qatar in maintaining its position as third largest infrastructure projects market in the GCC, with more than $75bn invested in this sector since 2004, the guide said.
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