The Middle East will need to invest around $18 billion over the next five years in new pipelines and associated infrastructure, organisers of major industry events in Dubai revealed.
The GCC region is expected to add more than 21,000 km of pipeline over the next five years to its current network, amounting to approximately 14 per cent of the global planned pipeline network of 161,000 km, organisers of the Tube Arabia, Metal Middle East and Arabia Essen Welding & Cutting (AEWC) shows said.
The shows, dedicated to the sheet metal, welding, machine tools, die molds and tubes sector, run at Dubai International Convention and Exhibition Centre until January 13.
Satish Khanna, general manager, Al Fajer Information and Services, said Tube Arabia, Metal Middle East and AEWC have generated strong response, as the sectors are set for further growth due to increased demand.
He said: “Expansion of the region’s population and investments would require more and more manufacturers of metal products, mainly tubes and pipes and related solutions like welding. During the first two days, major decision makers visited the shows to explore potential trade deals and widen their knowledge about latest solutions and technologies.” According to recent statistics, the UAE mills produce 500,000 metric tonnes per annum of tubes and pipes, of which 65 per cent is exported to neighbouring and international markets and 35 per cent consumed internally.
Khanna added: “The UAE has manufacturing facilities to produce three times the local demand. With that in mind, more and more buyers from around the region find the UAE market a fertile buying spot, not only because it has the production capacity but also it enables transfer of new technologies to the region.”
Source : WAM News Agency for United Arab Emirates
