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• 
  Kuwait tenders 900MW Subiya plant contract

  30 April 2025

  Kuwait's Electricity, Water & Renewable Energy Ministry (MEWRE) has reissued the tender for a contract to build a combined-cycle gas turbine plant in Subiya.

  The fourth phase of the Subiya power and water complex is expected to have a capacity of 900MW.

  The ministry issued the tender on 27 April and expects to receive bids by 27 May.

  The ministry announced earlier this month that the Kuwait Central Authority for Public Tenders has approved issuing the tender for the 36-month contract.

  MEWRE first tendered the contract to design and build the 900MW Subiya phase 4 CCGT in 2022.

  According to MEED Projects data, the bidders and their offers were:

  • Al-Ghanim International General Trading & Contracting (local): $837.3m
  • Al-Zain United General Trading & Contracting (local): $866.17m

  MEED understands that Al-Ghanim International emerged as the preferred bidder after agreeing to a revised contract value of $662m.

  The planned project, along with a scheme to convert an existing 250MW simple-cycle plant into a CCGT plant, aims to boost the generation capacity at the Subiya power complex by 1,150MW.

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  Jennifer Aguinaldo
• 
  Read the May 2025 MEED Business Review

  30 April 2025

  Download / Subscribe / 14-day trial access

  Global stock markets suffered some of their worst days on record following US President Donald Trump's announcement of his 'Liberation Day' tariffs on 2 April. Although a 90-day pause was quickly announced for most trading partners, the 10% baseline import duty and levies on aluminium and industrial metals led to selloffs across regional indices. Oil prices also took a hit, as Brent crude dropped to under $60 a barrel for the first time since 2021.

  The GCC is well positioned to survive the trade wars, however. Oil, energy and various petrochemicals products remain exempt from US tariffs, and with low regulatory barriers and the capacity to engage in manufacturing-intensive activities, the region's economies pride themselves on being trade-friendly. By building on the strong relations that regional leaders enjoy with the Trump administration, GCC states can hope to emerge from the assault relatively unscathed.

  In the May edition of MEED Business Review, we take an in-depth look at how regional governments hope to avoid the worst of the hits from US tariffs, examine the impact of the tariff regime on Gulf stock markets and assess the additional damage that falling prices will cause for oil exporters across the Middle East and North Africa region.

  MEED's latest issue also includes a 17-page market report on the UAE, which explores how solid fiscal and macroeconomic fundamentals will help the country ride out the global uncertainty caused by the imposition of US tariffs. UAE financial institutions remain on a strong growth heading, and an expected increase in oil production, continued chemicals sector growth, expansionary government spending on infrastructure and renewed investment in real estate will all help the UAE to weather the storm.

  In addition, this month's issue features MEED's 2025 GCC Contractor Ranking, which reveals an increase in orders across the region in the past year. While the GCC’s most active contractor is Saudi Arabia’s Nesma & Partners, with $13.9bn of work at the execution stage, Beijing-based China State Construction Engineering Corporation has continued to grow strongly to secure second place this year, just $300m behind Nesma with $13.5bn.

  This issue is also packed with analysis. We examine the steps that are being taken by Damascus to reassure regional partners and lay the groundwork for the reconstruction of war-torn Syria; look at what Saudi Arabia and Oman are doing to attract local and international miners; and learn how UAE sovereign wealth fund Mubadala is investing in a low-carbon future.

  In the May issue, the team also speaks exclusively to Walter Simpson, the former managing director of CC Energy Development (CCED), about the oil producer’s plans for growth in Oman; and Iain McBride, head of commercial for gigaproject multi-asset developer Roshn Group, who lays out the procurement strategy that is enabling the company to navigate the challenges presented by Saudi Arabia’s construction boom.

  We hope our valued subscribers enjoy the May 2025 issue of MEED Business Review. 

  

   

  Must-read sections in the May 2025 issue of MEED Business Review include:

  > AGENDA: 
  > GCC shelters from the trade wars
  > Gulf markets slide as US tariff shockwaves hit
  > Lower oil prices raise Gulf’s fiscal pressure

  > CURRENT AFFAIRS:
  > Syria makes progress towards reunification

  INDUSTRY REPORT: 2025 GCC contractor ranking  > Contractors take on more work in 2025

  > MINERALS: Saudi Arabia and Oman open up their minerals potential

  > INTERVIEWS:
  > CCED seeks growth in Oman’s hydrocarbons sector
  > A case study in procurement 

  > LEADERSHIP: Rethinking investments for a lower-carbon future

  > UAE MARKET REPORT: 
  > COMMENT: UAE is poised to weather the storm
  > GOVERNMENT & ECONOMY: UAE looks to economic longevity
  > BANKING: UAE banks dig in for new era
  > UPSTREAM: Adnoc in cruise control with oil and gas targets
  > DOWNSTREAM: Abu Dhabi chemicals sector sees relentless growth
  > POWER: AI accelerates UAE power generation projects sector
  > CONSTRUCTION: Dubai construction continues to lead region
  > TRANSPORT: UAE accelerates its $60bn transport push
  > DATABANK: UAE growth prospects head north

  > MEED COMMENTS: 
  > Opec+ shows defiance in the face of sliding oil prices
  > Corruption may hinder Iraqi oil pipeline reopening
  > Mall of the Emirates sets trends again with $1.4bn revamp
  > Abu Dhabi infrastructure entity will help forge partnerships

  > GULF PROJECTS INDEX: Gulf projects index inches upwards

  > MARCH 2025 CONTRACTS: Region records $70.3bn of deal signings in first quarter of 2025

  > ECONOMIC DATA: Data drives regional projects

  > OPINION: Trump’s new world order

  > BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts

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

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  MEED Editorial
• 
  Oman seeks firms for geothermal plant study

  30 April 2025

  Oman’s Nama Power & Water Procurement Company (PWP) has invited companies to bid for a contract to provide technical and economic consultancy services for the sultanate’s first planned geothermal power plant project.

  Known as the Hot Springs geothermal project, the site being considered for the project’s first phase is the area between Wilayat Fanja and Al-Ansab in Wilayat Bausher in Muscat.

  PWP expects to receive bids from technical and financial consultancy firms by 22 May.

  The selected bidder will conduct a feasibility assessment of geothermal energy potential within the specified sites.

  The project supports Oman Vision 2040 and renewable energy targets as well as its net-zero committed target.

  The tender proceedings are under way for several renewable energy projects in Oman.

  In February, PWP received four bids for the contract to develop and operate the Ibri 3 solar independent power producer (IPP) project.

  The 500MW scheme is Oman’s fourth utility-scale solar power plant project.

  The bidding process is also under way for two wind IPPs in Oman.

  The Jalan Bani Bu Ali wind IPP  will cater to the Main Interconnection System (MIS), while the Dhofar 2 wind IPP will cater to the smaller Dhofar Power System (DPS).

  The Jalan Bani Bu Ali wind IPP, located in South Sharqiyah Governorate, will have a capacity of  91MW-105MW and has a commercial operation target of Q1 2027.

  Adjacent to the existing Dhofar Wind 1 IPP in Shaleem and Al-Hallaniyat Islands in Dhofar Governorate, the Dhofar 2 wind plant will have a capacity of 114MW-132MW and will be operational in Q2 2027.

  Photo credit:  Pixabay, for illustrative purposes only

   

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13784148/main.jpg

  Jennifer Aguinaldo
• 
  Kurdistan plant to deploy GE Vernova technology

  30 April 2025

  The 1,250 MW Bazyan power plant in the Iraqi Kurdistan region will deploy the US-based GE Vernova's first upgrade of its Advanced Gas Proven (AGP) technology that runs on its 9E.03 gas turbine fleet.

  Known as AGP Xpand, the technology can increase their 9E.03 gas turbines' output by up to approximately 7%, with an approximately 1% incremental efficiency, GE Vernova said.

  Taurus Energy, a portfolio company of Onex Group, operated the Bazyan power plant. Onex Group is a private energy group with a portfolio of power generation, utilities, energy trading, shipping and refining companies.

  Qubad Talabani, deputy prime minister of the Kurdistan Regional Government,  Kamal Mohammad Salih Khalil, Minister of Electricity in the Kurdistan Regional Government and Steven Bitner, consul general at the US Consulate General Erbil, along with other senior government officials and local business leaders witnessed the signing of the agreement held in Sulaymaniyah.

  In addition to increasing the gas turbines' efficiency, the technology enables exhaust energy to increase by up to 2.6% to produce more steam or power, for combined heat and power (CHP) plants or combined cycle plants, like the Bazyan power plant.

  Taurus is welcoming this technology, which could modernize its

  The Bazyan power plant is powered by

  Four GE Vernova 9E.03 and two 9F.04 gas turbines power the  Basyan power plant, which uses natural gas as the primary fuel source and light fuel oil as backup fuel.

  Taurus designed and engineered the power plant for baseload operations with an expected lifetime of 25-30 years.

  The AGP XPAND upgrade is expected to enhance the current capacity and deliver additional, much-needed electricity to the Kurdistan Region as well as nearby cities and governorates such as Mosul and Salahaddin.

  In addition, GE Vernova and Taurus Energy signed a new 17-year long-term service agreement covering four GE Vernova’s 9E units with the first 9E rotor life extension package in Iraq.

  “By utilising Kurdistan Region’s natural gas resources and power generation capacity, we are laying the foundation to create an energy hub," said Saad Tayeb Hasan, Onex founder and chairman.

  "Through projects like Bazyan, we can contribute to the efforts to meet local energy needs as well as transmit additional power to other parts of the country."

  According to GE Vernova, it has added more than 19GW of power capacity in Iraq since 2011, built and energised more than 30 substations since 2015, and mobilised over $3bn in financing for energy projects since 2015. 

   

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13783196/main.jpg

  Jennifer Aguinaldo
• 
  Algeria holds talks with Chinese nuclear firm head

  30 April 2025

  Algerian State Minister and Energy, Mines and Renewable Energies MInister, Mohamed Arkab, met with China National Nuclear Corporation (CNNC) president, Wang Yongge in Algiers on 26 April.

  According to a local media report citing a ministry statement, the two reviewed the ongoing cooperation between Algeria's Commissariat for Atomic Energy (Comena) and CNNC,  focusing on the peaceful use of nuclear energy, its medical applications, and prospects for future development.

  They also assessed the progress of the previously established specialised working group tasked with preparing and launching a radioactive isotopes production project in Algeria.

  This project holds strategic importance in supporting the national healthcare sector, particularly in diagnosis and radiation therapy, with a special emphasis on cancer treatment.

  MEED understands that Yongge expressed his firm's "readiness" to support Algeria in implementing the radioactive isotope production project.

  MEED reported in May 2013 that Algeria was planning to build its first nuclear power plant by 2025 as part of efforts to meet the rapidly growing demand for electricity.

  “We plan to have our first nuclear power plant in 2025 and we are in the process of working on this project,” Youcef Yousfi, the country’s Energy and Mines Minister at the time, was quoted in the Algerian state media outlet Algerie Presse Service (APS).

   Algeria has uranium reserves of 29,000 tonnes, which is enough to supply two 1,000MW nuclear power plants for 60 years, said Yousfi.

  That project has yet to move beyond the planning stage.

  Relations between China and Algeria have become increasingly close over recent years.

  In November 2023, China’s Chery Automobile Company said it plans to build a car plant in the province of Bordj Bou Arreridj with a preliminary capacity of 24,000 units a year.

  In July the same year, President Xi Jinping held talks with Algerian President Abdelmadjid Tebboune and agreed to increase economic cooperation between the two countries.

  The two leaders said they would deepen cooperation in sectors including infrastructure, petrochemicals, mining and agriculture.

  They also said that they would expand cooperation in high-tech fields including aerospace, nuclear energy and renewable energy to nurture new growth drivers of cooperation.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13775261/main.jpg

  Jennifer Aguinaldo