Construction work is expected to start this year at the multi-billion dollar Energy City Qatar project with a completion date in 2011, its CEO has announced.
Basic infrastructure work at the Gulf region’s first oil and gas industry hub, based in Lusail, will be completed by the year-end, chief executive officer, Hesham al-Emadi said.
Seventy percent of the infrastructure work had already been completed at the industrial centre which will also be home to 200,000 people, Emadi said in comments published by Gulf Times on Thursday.
Asked whether the global economic downturn had impacted the project development he said: “A majority of our developers are real large-scale players and will not find difficulty raising finance. But some smaller developers may get affected as banks tighten lending due to the global economic crisis. But only a handful of our developers are of that scale.”
Launched by Gulf Energy, ECQ aims to attract the leaders in oil and gas industry.
“Once our physical infrastructure is ready, I am quite sure lot of major international energy companies will consider moving there,” he told the paper.
Source: Arabianbusiness.com
