The world’s top exporter of liquefied natural gas (LNG) has invested tens of billions of dollars into a massive expansion of its energy capacity, expected to be finished by the end of 2010.
Kamal said the government planned to spend more than $ 40bn on various infrastructure projects, while another $ 60bn would come from government agencies or the state-owned firms such as Qatar Petroleum.
“The main projects are roads, sewage treatment, water treatment and infrastructure like ports and airports,” he told reporters on the sidelines of a Turkish-Arab economic forum in Istanbul.
The Qatari economy, which depends on oil and gas revenue, may expand 18.5 percent in 2010, according to the International Monetary Fund. Growth may slow to 14.3 percent next year, the IMF says on its website.
The government will spend more than $ 40 billion on projects, while the remaining amount will come from government subsidiaries such as Qatar Petroleum Corp., Kamal said.
Qatar, owner of the world’s largest single natural-gas field, has a $ 130 billion, eight-year investment programme in oil, gas, education and health.
Kamal also said Qatar did not plan offering more domestic bonds for the time being, after issuing QR10bn in eight-year conventional and Islamic bonds to local banks this month, the Gulf’s first domestic sovereign offering this year.
When asked whether more were planned, he said: “For the time being, no.”
The local issues were aimed at helping the country launch a local debt market, provide a new vehicle to pool excess liquidity in the banking sector and diversify its funding away from dollars.
