Related Articles

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  Oman offers four mining concessions to investors

  3 September 2025

  Oman’s Ministry of Energy & Minerals (MEMR) has offered four mining concessions in the sultanate to investors.

  Local and international mining firms have until 31 March next year to submit their applications for the four concession areas, the MEMR announced on its Taqa platform.

  Block 11D is spread across 1,084 square kilometres (sq km) in Al-Buraimi governorate, and is estimated to hold reserves of copper, gold, silver, chromite, basalt and gabbro.

  Block 14B covers 2,673 sq km in Al-Batinah South governorate, and is estimated to hold reserves of copper, gold, silver, chromite, basalt and gabbro.

  Block 22E is spread across 810 sq km in Al-Sharqiyah North governorate, and is estimated to hold reserves of copper, gold, silver, chromite, basalt and gabbro.

  Block 51H is the largest concession on offer, spanning 4,181 sq km in Al-Wusta governorate. The block is estimated to hold reserves of silica, salt and kaolin.

  The offering of the four concession areas comes within weeks of the MEMR awarding exploration rights for three mining concessions in the sultanate to two Omani firms, securing investments worth more than $500m in the process.

  ALSO READ: Oman invites miners to participate in new licensing round

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  Indrajit Sen
• 
  Syria signs deal for 100MW solar power plant

  2 September 2025

  Syria’s Public Establishment for Transmission & Distribution of Electricity has signed a contract with Syrian-Turkish Energy Company to build a 100MW solar power plant in Hama Governorate.

  Located in the Kafr Buhum area, the project will be connected to the high-voltage network at 230kV, increasing electricity supply and potentially reducing outage hours.

  According to the authority's general director, Khaled Abu Di, the project will “utilise clean renewable energy technologies through the use of photovoltaic panels”.

  He said that the deal followed several months of proposal evaluations, with the chosen bid selected on the basis of efficiency and economic feasibility.

  Construction and preparation are expected to take 12 months, after which the plant will enter service at full capacity.

  The project is part of wider efforts to rebuild Syria's electricity sector, which has faced years of infrastructure damage and supply shortages.

  In June, MEED reported that Syria's Electricity Ministry had signed a $7bn memorandum of understanding with a Qatar-led consortium for 5GW of gas and solar power capacity.

  The agreement covers the development of four combined-cycle gas turbine power plants with an installed capacity of 4GW, and a 1GW solar power plant.

  The projects will be implemented under build-own-operate and build-operate-transfer models alongside power-purchase agreements.

  Once completed, they are expected to double the country's output.

  

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  Mark Dowdall
• 
  October deadline for Abu Dhabi underwater museum

  2 September 2025

  

   

  Abu Dhabi has set a deadline of 31 October for contractors to submit their proposals to build an underwater marine museum in the UAE capital.

  The client, the Environment Agency – Abu Dhabi (EAD), issued the tender in November last year. The previous bid submission deadline was 31 August.

  According to the official notice, the project scope includes the construction, production, transportation, installation and handover of the museum elements, based on the pre-specified design.

  The notice also outlines that the scope includes the fabrication and transportation of museum components, along with “site preparation of the seabed”.

  The EAD is seeking a single bidder with experience of similar projects and a team of qualified professionals, including marine, structural and civil engineers; technical diving teams; quantity surveyors; and planning engineers.

  Abu Dhabi Tourism Strategy 2030

  Building the underwater museum supports the Abu Dhabi Tourism Strategy 2030, which was approved in May 2024. Abu Dhabi’s Department of Culture & Tourism is leading the strategy’s execution.

  The strategy seeks to achieve a 7% year-on-year growth by increasing the number of visitors from 24 million in 2023 to 39.3 million by 2030.

  The plan also aims to increase the tourism and travel sector’s contribution to the UAE’s GDP from about AED49bn ($13.34bn) in 2023 to AED90bn ($24.5bn) by 2030.

  In April 2024, the Abu Dhabi Projects & Infrastructure Centre announced that the Abu Dhabi Executive Council had approved the launch of 144 projects in the emirate.

  These were approved with a total expenditure of approximately AED66bn ($18bn) and cover several sectors, including natural resources, tourism, education and human capital, and housing and quality of life.

  Of the total investment, AED59bn ($16.1bn) was allocated to establishing housing and public facilities throughout the emirate, AED4bn ($1.1bn) was allocated for education and human capital projects and about AED1.9bn ($517.4m) was earmarked for the emirate’s natural resources and to enhance infrastructure development. The remaining AED1.1bn ($300m) was allocated to schemes that aim to boost tourism.

  UK data analytics firm GlobalData expects the UAE construction industry to register annual growth of 3.9% in 2025-27, supported by investments in infrastructure, renewable energy, oil and gas, housing, industrial and tourism projects.

  GlobalData expects the commercial construction sector to expand by 5.6% in 2025-28, supported by a recovery in tourism activities and investments in the hospitality sector.

  

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  Yasir Iqbal
• 
  Adnoc earns $316m from additional share sale in logistics unit

  2 September 2025

  Abu Dhabi National Oil Company (Adnoc Group) has earned proceeds of about AED1.16bn ($316m) from the listing of an additional 222 million shares in its subsidiary Adnoc Logistics & Services (Adnoc L&S), equating to about 3% of the issued share capital, on Abu Dhabi Securities Exchange (ADX).

  Following this transaction, the free float of Adnoc L&S shares on ADX has increased to 22%. Adnoc Group listed 19% of shares in Adnoc L&S on 1 June 2023 through an initial public offering (IPO) from which the parent entity earned $769m in proceeds.

  Adnoc Group priced the additional 3% offering at AED5.25 ($1.42) a share, “at the tightest discount for a secondary sell-down in the region”.

  The offering received strong demand from institutional investors in the GCC and internationally, with over-subscription levels of almost seven times during an accelerated book build of approximately four hours, which is among the highest seen in a secondary sell-down in the region.

  Following the additional share sale, Adnoc L&S is expected to enter the MSCI index in the future.

  Adnoc L&S has been delivering strong financial and operating performance with total shareholder return in excess of 170%. In the first half of 2025, the company reported a revenue increase of 40% year-on-year, and earnings before interest, taxes, depreciation and amortisation (Ebitda) growing 26% to $735.19m, having reached Ebitda of $1.14bn, doubling since the time of its IPO.

  Adnoc L&S has also accrued $26bn of long-term contracted revenues and forward contracts totalling more than 960 years, providing visibility and resilience. Growth investments remain on track, with Adnoc L&S targeting revenue growth in the high 20% range year-on-year for 2025, along with mid-20% Ebitda growth in the same period.

  

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  Indrajit Sen
• 
  Bahrain tenders 1,500MW Sitra IWPP

  1 September 2025

  Bahrain’s Electricity & Water Authority (EWA) has launched an international tender for the Sitra independent water and power plant (IWPP).

  The project will deliver 1,400MW-1,500MW of power and 30 million imperial gallons a day (MIGD) of desalinated water.

  EWA president Kamal Bin Ahmed Mohammed said that the scheme will be procured through a build, own and operate model in partnership with the private sector.

  Seven international companies and consortiums have been prequalified to bid. These are:

  • Abu Dhabi National Energy Company (Taqa, UAE)
  • Acwa Power (Saudi Arabia)
  • China Energy Engineering Corporation and China Datang (Overseas Hong Kong, China)
  • Gulf Investment Corporation (Kuwait)
  • Jera (Japan)
  • Korea Electric Power Corporation (Kepco, South Korea)
  • Sumitomo Corporation (Japan)

  China Energy Engineering Corporation and China Datang are bidding together as a single prequalified entity for the Sitra IWPP project.

  MEED previously reported that EWA had received statements of qualifications from nine interested firms in December 2024.

  The project will use reverse osmosis desalination technology and is expected to be commissioned in phases.

  Initial operations, covering 600MW of power and 30 MIGD of water, are scheduled for the second quarter of 2028. Full commercial operations are targeted for the second quarter of 2029.

  The project is in line with EWA’s plan to replace old plants with new, more efficient ones that reduce natural gas consumption.

  The Sitra IWPP follows other recent EWA initiatives, including the planned 60 MIGD Al-Hidd independent water plant and the announcement of Bahrain’s first solar-powered electricity and water production facility.

  The solar project, with capacity of 150MW, is expected to be tendered in the fourth quarter of this year.

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  READ THE AUGUST 2025 MEED BUSINESS REVIEW – click here to view PDF

  Gulf heads into a new era of aviation; Maghreb’s resilience rises despite global pressures; GCC banks expand issuance amid demand

  Distributed to senior decision-makers in the region and around the world, the August 2025 edition of MEED Business Review includes:

  > AGENDA 1: Middle East invests in giant airports > AGENDA 2: Broader region upgrades its airports > AGENDA 3: Global air travel shifts east > CURRENT AFFAIRS: Syria wrestles fragile security situation > GCC BANKS: Gulf banks navigate turbulent times > BANKING: Strategic planning enters a new era of volatility > CONSTRUCTION: Soudah Peaks outlines project construction plans > INTERVIEW: SETS leads Saudi heritage preservation charge > LEADERSHIP: From plastic leakage to leadership in the Gulf > MAGHREB MARKET FOCUS: Maghreb pushes for stability

  To see previous issues of MEED Business Review, please click here

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  Mark Dowdall