Abu Dhabi's $37 Billion Infrastructure Projects Continue Despite Falling Oil Prices

Abu Dhabi, which holds 6% of the world's total oil reserves, has accelerated its infrastructure programs that began before the drop in oil prices in 2014. This program includes 10 projects worth a total of $37 billion, including the establishment of a branch of the Louvre Museum in France, a new airport terminal, and a nuclear power plant. According to Bloomberg News, these projects are set to be completed by 2020. The Louvre Abu Dhabi is expected to be completed by the end of this month and includes a special children's section and a hall with a capacity of 280 tons. Additionally, the first nuclear power plant in the United Arab Emirates will provide about 25% of the country’s electricity needs starting in May 2020. This $23 billion project includes 4 reactors with a production capacity of 5600 megawatts. The new Abu Dhabi airport terminal, which will be built at a cost of $3.5 billion, will double the passenger capacity at UAE airports to 30 million passengers per year. This terminal, which will be built over 6 floors, will include a hotel, various shops, and restaurants, and is expected to be operational in January 2019. Furthermore, the Abu Dhabi sewage tunnel project, measuring 41 kilometers, is one of the longest tunnels in the world and will have 43 kilometers of branch tunnels. This $1.5 billion project is expected to open in the third quarter of this year. Another project aimed at building a new highway and optimizing existing roads connecting Abu Dhabi to Saudi Arabia is underway. This project, which includes 15 overpasses, will cost $1.5 billion. The project to build a network of roads, sewage, electricity, water supply, lighting, and facilities for Zayed City, a new area in Abu Dhabi, is 19% complete. This project, costing $909 million, is expected to be finished by January 2020. The housing project for 3,000 people near Al Ain includes a school, a clinic, and other facilities. This project, costing $1.5 billion, is expected to be completed by the end of this year. The construction of a 719-bed hospital in Al Ain will cost $1.2 billion and is set to be operational in December 2018. Al Ain is the second-largest city in Abu Dhabi and the fourth-largest city in the UAE. The residential complex project in Al Ain, costing $1.14 billion, includes housing units for 2,000 people and is expected to be operational by the end of July. The first specialized burn hospital in the UAE, equipped with 739 beds, will open at the end of January at a cost of $1.1 billion.