THE SHAH DEVELOPMENT PROJECT
Helped by relatively high energy prices, the appetite to invest in large-scale infrastructure and energy projects in the Middle East (and to a lesser extent ...Africa) has increased dramatically. Today, South Korean's Samsung Engineering announced that it won a huge USD 1.5 billion order from Abu Dhabi Gas Development Co. Samsung will build the utilities and offsite facilities in Shah, 180 km Southwest of Abu Dhabi.
The project will be completed by August 2013 and is part of a larger development with a total value of USD 10 billion. The Shah development will process 1 billion cubic feet of gas per day into more than 500 billion cubic feet of fuel and 10,000 tons of sulfur, according to the CEO of Abu Dhabi Gas Development.
ABU DHABI BACK ON TRACK
It clearly indicates that the richest of the Gulf Emirates didn't really feel the bailout of fellow-Emirate Dubai after the latter went too far with its own non-energy-related development plans during the crisis and shortly after. One thing is sure: the European nations that will have to bail-out Greece will take longer to overcome the cash drain than Abu Dhabi did.
Abu Dhabi: Back on Track
Bailing out Dubai was not a killer
Host to the most expensive and prestigious closing race of the Formul1
And embarking on expensive, huge energy and infrastructure projects
But be sure: they won't make the same mistakes as Dubai did