Muslim countries are expected to invest nearly $1.2 trillion in infrastructure projects over the next 10 years, especially in telecom, transport, power, water and other vital sector, a report issued by the Jeddah-based Islamic Development Bank (IDB) Group announced. The report said some $675 billion would be invested to finance new telecom and power projects in IDB member countries, adding that half of that amount would be in the Gulf Cooperation Council states of Saudi Arabia, Qatar, UAE, Kuwait, Bahrain and Oman. The IDB countries will also invest $290 billion in expanding and upgrading air, sea and land transport infrastructure, with half of that investment taking place in Asia, the report said. They will invest as much as $115 billion in water projects to expand and improve the provision of water and sanitation services, the report said, adding that nearly 60 percent of this investment would be in Arab and African member countries. The projects that the included the new Haj and Umrah terminals, Petro Rabigh and SABIC’s Yansab petrochemical project.
BIG INVESTMENT OF IDB
Muslim countries are expected to invest nearly $1.2 trillion in infrastructure projects over the next 10 years, especially in telecom, transport, power, water and other vital sector, a report issued by the Jeddah-based Islamic Development Bank (IDB) Group announced.
