Power and water suppliers and service providers insisted there have been no cancellations or delays of any major power and water projects in the UAE.
Speaking to Emirates Business, Riyadh Cables, which gets 50 per cent of its UAE revenues from Dewa, said power and water infrastructure projects in the country are progressing as planned.
"Construction projects were stopped or delayed but not infrastructure projects," said Khalil Mohammed Al Khayat at Riyadh Cables. "In Abu Dhabi, there is, in fact, very strong demand."
The company has seen 10 per cent more projects in 2009 compared to 2008. Out of the Dh6 billion revenues it earned last year, more than Dh1.5bn came from the UAE, he said.
"We did not see any problem in collecting dues either," said Mohammed Hassan Sharbek, Projects General Manager at the same firm. "We operate on an LC (letter of credit) basis so there have been no defaults or anything." Dubai-based Ghantoot Gulf Contracting also saw growth last year. "In Abu Dhabi we had Dh2bn projects and Dh1.2bn in Dubai. There is no delay in projects in the UAE," said company spokesman, S Muralidhar.
"Infrastructure projects from Dewa, Abu Dhabi Water and Electricity Authority, etisalat, railways, oil and gas are main drivers. Airports in Abu Dhabi, Dubai, Oman, Kuwait and Saudi Arabia are either being expanded or rehabilitated," said Nabil Zoghbi, Exports Sales Manager, Marketing and Sales, Nexans.
By Karen Remo-Listana
© Emirates Business 24/7 2010
