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Article: United Arab Emirates: Capital to spend $1tn on major projects.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: manish03
Abu Dhabi holds about 8 per cent of the world s oil and is already ploughing billions of dollars in oil revenues into such projects as the $40bn Yas Island development. Ryan Carter / The NationalAbu Dhabi will spend US$1 trillion (Dh3.67tn) on major infrastructure, property and manufacturing projects, the Minister of Economy said.
The unprecedented infrastructure spending comes as the emirate speeds up its economic diversification plans in response to the global financial crisis, with projects valued at more than $100 billion under way.
The planned investments to be implemented through public and private partnerships in ...