Plans to construct the Gulf’s first oil and gas industry hub in Qatar will not be delayed by the global economic crisis, a top official has insisted.
Energy City Qatar (ECQ) at Lusail aims to attract industry leaders in oil and gas production, international and national oil companies, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.
ECQ will form part of the major new city development, which in addition to major business and entertainment districts, will be home to up to 200,000 people.
“We are looking at the project completion by 2011. We are on schedule,” ECQ chief executive officer Hesham al-Emadi said in comments published by Qatar daily Gulf Times on Wednesday.
Emadi said a majority of the 52 developers are large players and preparing to begin construction at their sites this year.
“Most of them are working on the concept design. We have provided them with the infrastructure to begin work at ECQ,” he told the paper.
However, he conceded that some of the smaller developers might be affected as banks tighten lending due to the global economic crisis.
“They may have to delay or reschedule their projects at the Energy City Qatar. But only a handful of our developers are of that scale,” Emadi said.
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