The global financial melt down and its fallouts have had its impact on the country and the entire region. However, the pro-active measures adopted by respective countries have ensured that infrastructure works are on schedule. Work on US$698 billion worth of infrastructure projects in the UAE is progressing full steam ahead despite the current economic climate, latest research shows.

Of an industry worth around $1.4 trillion, this means nearly half of all civil construction projects in the UAE are still under way. These projects include residential and commercial buildings,infrastructure such as roads, railways, bridges and ports, petrochemical industry expansions, oil and gas investments, energy projects, educational and healthcare facilities, sport facilities and hotels.

Steel fabrications are used across the infrastructure, oil & gas and other industries, and this non-reliance on real estate projects is working in favour of the sector.The emphasis placed on spending through higher budgetary allocations will ensure that industrial and infrastructure developments in the country and region will continue and they, in turn, will help sustain orders for machinery and tools from the steel fabrication industry.

Though exaggerations are the norm of the day that arises out of the present gloom and doom forecasts, these figures point to the fact that the country’s industrial sectors as well as infrastructure projects will propel the economy to register positive growth.