Qatar calls for Turkish investment ahead of World Cup

Qatar calls for Turkish investment ahead of World Cup

ISTANBUL- Hürriyet Daily News
Qatar calls for Turkish investment ahead of World Cup

Chairman of the Qatar Athletics and Executive Director of the Qatar 2017 Abdullah Zaini shakes hands with IAAF Senior Vice President Robert Hersh (L) of the U.S. during a visit at Khalifa stadium in Doha October 5, 2011. REUTERS photo

Qatar’s government is inviting Turkish contractors to participate in the construction of a number of infrastructure, stadium and hotel projects ahead of the 2022 FIFA World Cup, according to a top official.

“The total amount of the investment will be around $170 billion,” Nasser Ali al-Mawlawi, president of the Qatari public works authority, told the Hürriyet Daily News & Economic Review on the sidelines of the sixth Turkish-Arab Economic Forum in Istanbul.

“Turkish companies will be supported financially for the new projects in Qatar,” he said.

Turkish companies had invested a total of $4 billion in Qatar by the end of 2010, al-Mawlawi said, adding that the current presence of 25 Turkish contractors in the Gulf state had proven the capacity of Turkish companies such large infrastructure projects.

Qatar won the right to host football’s showpiece event in December.

Al-Mawlawi said the Qatari government would invest nearly $20 billion in new highway projects alone over the next five years and added that $30 billion was slated for investment in improving Qatari rail lines connecting Gulf countries in the region.

Al-Mawlawi said Turkish companies could tender for the railway project with no need of a financial guarantee, but added that Qatar could still provide the money if necessary.

Turkish companies will probably be favored for such new projects as hotels and airports in the country, according to Emin Sazak, head of the Turkish-Qatari Business Council of the Foreign Economic Relations Board of Turkey, or DEİK.

According to al-Mawlawi, the regional demand in building materials and equipment will also rise in the next 10 years. “We have observed that Turkish companies have the skill, know-how and technology for mega projects.”

Al-Mawlawi said the Qatari authorities were ready to issue a quality certificate for construction companies. “Turkish firms will receive it easily,” he added.

Qatar is well-placed to fund the vast infrastructure program thanks to its oil and gas reserves and plans to renovate three existing stadiums and construct another nine in time for the 2022 tournament.