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14-05-14
Sharjah seeks USD3b pipeline projects' investors
(MENAFN) Sharjah plans to award USD2.99 billion worth contracts for new pipeline projects by 2015, according to the Emirates 24/7. Sharjah has awarded USD5.17 billion worth projects in 2012 and 2013, three times the rate of the previous two-year period to the end of 2011. If Sharjah major contract awards reach USD2.99 billion for 2014, that would represent a 25 percent rise on major contract signings last year. Julian Herbert, Director of Meed Projects, said: "Sharjah is just beginning to capitalize on its earlier investments in Hamriyah Free Zone and Khorfakkan. Based on economic growth and growth in the population of the UAE as a whole, this emphasis on the processing of recyclable materials and manufacturing, positions Sharjah well to grow in tandem with the UAE."
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