State-owned Manateq has awarded a $459 million contract for the development of Qatar’s first economic zone, which will focus on logistics and advanced technologies.
A consortium formed by Spain’s Sacyr and Qatari firm Urbacon Trading & Contracting (UCC) has been hired to design and construct QEZ-1 in Ras Bufontas, it was reported in Spanish media on Monday.
The work awarded covers an area of approximately 4.1 square kilometres. Sacyr is already involved in projects in the UAE, Jordan and Oman.
Manateq develops and operates specialised economic zones in Qatar, with the aim of providing infrastructure to help the development of private sector business, according to its website.
Late last year, Qatar launched the first of three new special economic zones established to help the state diversify its economy.
The Ras Bufontas project, near the new Hamad International Airport, will specialise in companies in the communications, infotech, energy, logistics, construction, transportation and other sectors, it was reported at the time of the launch.
Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, who laid the foundation stone, said the special economic zones would be the base of the country’s private sector, focusing on small and medium enterprises.
Qatar has stated it wants to diversify from a hydro-carbon-led economy – which helped to make it one of the richest in the world but is subject to volatile global oil prices – to a knowledge-based economy. The other two zones are Abu Nakhla and Um Alhoul.