Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Apr 02, 2017

DO NOT PUBLISH- Abu Dhabi’s Plowing Ahead With These 10 Mega Projects During an Oil Slump

DO NOT PUBLISH- Abu Dhabi’s Plowing Ahead With These 10 Mega Projects During an Oil Slump

None

(Bloomberg) -- Abu Dhabi, which sits on about 6 percent of the world's oil reserves, has pushed ahead with a construction program that began before crude prices slumped in 2014. From a branch of Paris's Louvre museum, a new airport terminal and a nuclear power plant, here are the 10 biggest projects underway in the sheikdom. With a combined value of 134 billion dirhams ($37 billion), they're expected to be completed by 2020, according to a list provided by the government this month in response to questions from Bloomberg. 

For more anut how the oil slump has impacted Abu Dhabi's spending, click here.

The Louvre Abu Dhabi

The Jean Nouvel-designed building, covered in a white dome and surrounded by water, is set for completion by the end of May. The $1.14-billion facility includes a children's museum and a 280-seat theatre. 

Government of Abu Dhabi

Barakah Nuclear Power Plant

The first nuclear plant in the United Arab Emirates will supply 25 percent of its electricity needs from May 2020, according to the Emirates Nuclear Energy Cooperation. The $23 billion-project includes four reactors producing a combined 5,600 megawatts.

Midfield Airport Terminal

At a cost of $3.5 billion, Abu Dhabi's new terminal will have 49 gates and double the airports capacity to 30 million passengers a year. Built over six levels, it will include a hotel, shops and restaurants when it's finished in January 2019. 

Government of Abu Dhabi

Sewage Tunnel

At 41 kilometers (25 miles) in length, Abu Dhabi says its sewage tunnel is among the world's longest. With an additional 43 kilometers of smaller linking tunnels, the $1.5 billion project is due to be completed in the third quarter of this year.

E11 Highway

The new highway and road upgrade program will link Abu Dhabi with the Saudi border, via the industrial hub of Ruwais— the site of the U.A.E.'s first nuclear plant. The project includes 15 flyovers, and costs $1.5 billion.

Zayed City infrastructure 

The government says the road network, sewage, lighting, electricity and water infrastructure for Zayed City, a new district in Abu Dhabi, is about 19 percent complete. The $909 million project is expected to be finished by January 2020.

Jabel Hafeet Housing Development

At a cost of $1.5 billion, the project near Al Ain includes homes for 3,000 people, including a school, a clinic and other facilities. It is due to be finished by the end of the year.

Al Ain New Hospital

The 719-bed hospital will have cost $1.2 billion when completed in December 2018. Al Ain is the second biggest city in the emirate of Abu Dhabi, and the fourth-largest in the U.A.E. after Dubai, Abu Dhabi and Sharjah. 

Musanada

Ain Al Faida Residential Development 

Another residential project in Al Ain, the $1.14 billion government project includes homes for 2,000 people, and will be completed by the end of July.

Sheikh Shakhbout Medical City

The first U.A.E. hospital to provide advanced treatment for burns, it includes 739 beds when it opens at the end of January at a cost of $1.1 billion.

To contact the author of this story: Zainab Fattah in Dubai at zfattah@bloomberg.net.

To contact the editor responsible for this story: Stuart Biggs at sbiggs3@bloomberg.net, Alaa Shahine

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search
Add NDTV Profit As Google Preferred Source
Listen to the latest songs, only on JioSaavn.com