New Research Report: Bahrain Infrastructure Report 2010

Dec. 24, 2009 - PRLog -- The credit crunch is affecting construction firms operating in Bahrain. In the fourth quarter of 2008 (Q408), Bahrain's  Al Khaleej Development warned that it expects future projects to be delayed, due to financing issues. 'There is some expectation that because liquidity is shrinking, this will have some effect on projects,' Executive Director Mohammed Abdul Khaliq was quoted as saying. He was not drawn on which projects may be affected, but said that initiatives that are already under construction were not in jeopardy. Al Khaleej Development is a key player in Bahrain; it oversees projects including the US$1.6bn Bahrain industrial wharf. Fluctuations in the oil price will also have an impact on Bahrain's economy and by extension investments in infrastructure. For 2008 we estimate stronger growth than for 2009 at 3.7% and 0.3% respectively. Industry value for 2008 is estimated at US$916mn and will marginally rise to US$956mn in 2009. Strong government spending in Bahrain will boost gross fixed capital formation, but we also expect foreign direct investment to play a key part too, in spite of the turbulent financial climate at the moment. Moreover, most of the West's more solvent banks are now turning their attentions to the Middle East, and Bahrain is well placed to attract a large amount of this business, having the region's most established banking sector and a large market share in the rapidly growing Islamic finance sector. Many of the investment arms of these banks are looking to tap into the project finance markets of the Middle East. While this sector is struggling a bit at the moment, on the back of higher interest rates and the risk aversion currently pervading the market, we think it looks set to pick up again going into 2009, with the launch of the US$2bn al-Dur independent water and power plant project, which is set to be constructed by a consortium comprising  GDF SUEZ Energy International and the  Gulf Investment Corporation. Latest Developments The Qatar-Bahrain causeway, which had been scheduled to get underway in March 2008, remained at the design stage in Q408. Construction had been put back to January 2009, according to a report in Qatari newspaper  Peninsula in October 2008 Company Analysis We evaluate the prospects of  Abdulla Ahmed Nass Group and  Ahmed Mansoor Al-A'ali, looking at their strengths, weaknesses and opportunities, as well as the threat provided by the global economic downturn. Ahmed Mansoor Al-A'ali may have to rein in its expansionist international ambitions.

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Report Table of Contents:

Executive Summary
- Market Overview
- Bahrain
- Global Overview
- Governments To The Rescue: The Global Surge In Infrastructure Spending
Table: Infrastructure Stimulus Plans List, Correct As Of July 2009
- SWOT Analysis
- Bahrain Infrastructure Industry SWOT
- Bahrain Political SWOT
- Bahrain Economic SWOT
- Bahrain Business Environment SWOT
- Major Infrastructure Developments and Key Projects
- Transport Infrastructure Overview
- New And Ongoing Projects
- Airports
- Ports
- Road Networks
- Energy And Utilities Infrastructure Overview
- New And Ongoing Projects
- Power Plants And Transmission Grids
- Water
- Construction Overview
- Major Projects
Table: Bahrain - Major Infrastructure Projects
- Industry Forecast Scenario
Table: Bahrain - Construction And Industry Data
- Business Environment
Table: Middle East Infrastructure Business Environment Ratings
- Bahrain Business Environment Overview
- Limits Of Potential Returns
- Risk To Realisation Of Potential Returns
- Project Finance Ratings: Outlook For Middle East
Table: Design And Construction Rating
Table: Commissioning And Operating Rating
Table: Overall Project Finance Rating
- Foreign Direct Investment
Table: Middle East And Africa Annual FDI Inflows
Table: BMI Trade Ratings
Table: Top Export Destinations
- Labour Force
Table: Labour Force Quality
- Legal Framework
Table: BMI Legal Framework Ratings
- Tax Regime
- Macroeconomic Outlook
Table: Bahrain - Economic Activity
- Political Outlook
- Domestic Politics
- Regional Outlook
- Company Profiles
- Abdulla Ahmed Nass Group
- Ahmed Mansoor Al-A’ali (AMA)
- Consolidated Contractors Company
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