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• 
  Ras Al-Khaimah sewage PPP deadline moved to April

  12 March 2025

  Prequalified firms are preparing to submit their proposals for a contract to develop and operate a wastewater treatment plant project in the UAE's northern emirate of Ras Al-Khaimah.

  The  Rakwa Wastewater Infrastructure Project entails the development of a wastewater treatment plant with a capacity of 60,000 cubic metres a day (cm/d), which could be expanded to 150,000 cm/d.

  Ras Al-Khaimah's Public Services Department (PSD) and Investment & Development Office (IDO) expect to receive bids for the contract by 15 April,  several weeks later than the previous tender closing date of 27 January, sources close to the project tell MEED.

  The scope of the build, own, operate and transfer scheme will include extensive sewerage and distribution works in addition to the main treatment plant.

  The project clients prequalified 13 companies and consortiums that can bid for the contract, MEED reported in September.

  These firms include: 

  • Acciona (Spain)
  • Besix (Belgium)
  • China Harbour Engineering Company (China) / BOWT
  • Cobra (Tedagua, Spain)
  • GS Inima (Spain/South Korea) / Alkhorayef Water & Power Technologies (Saudi Arabia)
  • Etihad Water & Electricity (EWE, UAE) / Saur  (France)
  • FCC Aqualia (Spain)
  • MA Kharafi (Kuwait) / Passavant Energy & Environment (UAE, Germany)
  • Metito
  • Miahona Company (Saudi Arabia)
  • Orascom Construction (Egypt)
  • Taqa Water Solutions (UAE)
  • Veolia Middle East (France/local)

  Two companies that previously provided utility services in the UAE, Abu Dhabi Sustainable Water Solutions – which has since rebranded as Taqa Water Solutions –  and Sharjah-based Etihad Water & Electricity, have been prequalified to bid for the contract to develop the project.

  This is the first STP public-private partnership (PPP) that is being developed by the Ras Al-Khaimah authorities.

  For its part, Etihad Water & Electricity plans to procure another utility PPP project for the northern emirate.

  The project involves expanding the capacity of an existing seawater reverse osmosis plant in Ghalilah, which became operational in 2015. 

  If successfully procured, it will be the first independent water project in Ras Al-Khaimah.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13477947/main.jpg

  Jennifer Aguinaldo
• 
  Taqa and Acwa Power to build Morocco green hydrogen plants

  12 March 2025

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  Riyadh-based utility and hydrogen developer Acwa Power and a consortium led by UAE-based Abu Dhabi National Energy Company (Taqa) are among five groups that have been selected to develop green hydrogen-based industrial plants in Morocco.

  The projects are estimated to require investments of up to MD319bn ($32.9bn).

  "These initiatives aim to position Morocco as a global leader in sustainable energy, focusing on the production of green ammonia, industrial fuels and steel," media reports citing an official statement said.

  The groups that have been selected include the ORNX Consortium, comprising US-based Ortus, Spain's Acciona and Germany's Nordex, which aims to build a green ammonia plant; an alliance between Taqa and Spain's Cepsa Alliance
  that aims to develop a green ammonia and industrial fuels production facility; and the local Nareva, which proposed the development of a plant that will produce green ammonia, industrial fuels and green steel.

  Acwa Power proposed the development of a green ammonia plant, while a Chinese consortium comprising United Energy Group and China Three Gorges plans to produce green ammonia.

  These projects align with Morocco’s broader strategy to decarbonise its economy and capitalise on its renewable energy potential.

  The green hydrogen-based industrial facilities will be built in Morocco's desert regions, which provide optimal conditions for generating solar and wind energy to power the electrolysis process producing green hydrogen, which is then converted into derivative fuels or used for steel production and other heavy industries.

  It will be the third green hydrogen project for Acwa Power in the Middle East and North Africa region, following the under-construction $8.4bn Neom green hydrogen project in Saudi Arabia and another potential multibillion-dollar project planned in Tunisia.

  Before this announcement, there were estimated to be seven large-scale green hydrogen projects in the North African state.

  These include CWP Global's Amun project; another project planned by China Energy International Construction Group, Saudi Arabia's Ajlan & Brothers Company and the local firm Gaia Energy Company; and the Hevo Ammonia Morocco project planned by Fusion Fuel, Greece-based Consolidated Contractors Company and Vitol.

  Moroccan phosphate specialist OCP is in the advanced stages of studying a project to produce 1 million tonnes of green ammonia annually by 2027.

  Other planned projects are Verde Hydrogen; White Dunes Dakhla, initiated by France-based HDF Energy and Falcon Capital Dakhla; and the Chibika green hydrogen and ammonia scheme, planned by TotalEnergies H2, a joint venture of France's Total Energies and Eren, Copenhagen Infrastructure Partners through its energy transition fund, and AP Moller Capital.

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  READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDF

  Chinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025

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

  > AGENDA 1: Chinese firms dominate region’s projects market > AGENDA 2: China construction at pivotal juncture > LIBYA: Uncertainty and instability damage Libyan oil sector optimism > UPSTREAM 1: Offshore oil and gas sees steady capex > UPSTREAM 2: Saudi Arabia to retain upstream dominance > BAPCO: Bahrain to benefit from $7bn project by year’s end > MASDAR: Masdar meets renewable’s moonshot challenge > DIRIYAH: Diriyah CEO sets the record straight > SAUDI POWER: Saudi power projects hit record high > AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector > EGYPT: Egypt battles structural issues > GULF PROJECTS INDEX: Gulf hits six-month growth streak > CONTRACT AWARDS: High-value deals signed in power and industrial sectors > ECONOMIC DATA: Data drives regional projects > OPINION: Trump’s foreign policy shakes global relations

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

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  Jennifer Aguinaldo
• 
  Meeras awards $544m design district construction deal

  12 March 2025

  Register for MEED’s 14-day trial access 

  Dubai-based real estate developer Meeras, which Dubai Holding owns, has awarded an estimated AED2bn contract ($544m) to build its Design Quarter residential project in the city’s design district.

  The contract was awarded to Abu Dhabi-based Arabian Construction Company (ACC).

  The development is spread across three buildings offering over 558 residential apartments.

  The construction works are expected to be completed in 2027.

  The enabling works are progressing on the project and are being undertaken by the local International Foundation Group.

  Dubai-based engineering firm Arif & Bintoak is the project consultant.

  In April last year, ACC started work as the main contractor on the Six Senses Residences Dubai Marina project.

  The 122-storey tower will be over 500 metres tall and will have more than 250 residential units, including two-, three- and four-bedroom residences; four-bedroom half-floor penthouses; four-bedroom duplex Sky Mansions; and five-bedroom triplex Sky Mansions.

  Earlier this month, it was reported that ACC is planning an initial public offering (IPO) in the UAE.

  According to media reports, ACC has approached several banks to “pitch for roles on the potential deal”.

  No further details on the IPO and its timeline were revealed.

  The UAE’s heightened real estate activity is in line with GlobalData’s forecast that the construction industry will register annual growth of 3.9% in 2025-27, supported by investments in infrastructure, renewable energy, oil and gas, housing, industrial and tourism projects. 

  The residential construction sector is expected to record an annual average growth rate of 2.7% in 2025-28, supported by private investments in the residential housing sector, along with government initiatives to meet rising housing demand.

  

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  READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDF

  Chinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025

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

  > AGENDA 1: Chinese firms dominate region’s projects market > AGENDA 2: China construction at pivotal juncture > LIBYA: Uncertainty and instability damage Libyan oil sector optimism > UPSTREAM 1: Offshore oil and gas sees steady capex > UPSTREAM 2: Saudi Arabia to retain upstream dominance > BAPCO: Bahrain to benefit from $7bn project by year’s end > MASDAR: Masdar meets renewable’s moonshot challenge > DIRIYAH: Diriyah CEO sets the record straight > SAUDI POWER: Saudi power projects hit record high > AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector > EGYPT: Egypt battles structural issues > GULF PROJECTS INDEX: Gulf hits six-month growth streak > CONTRACT AWARDS: High-value deals signed in power and industrial sectors > ECONOMIC DATA: Data drives regional projects > OPINION: Trump’s foreign policy shakes global relations

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

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  Yasir Iqbal
• 
  BP’s Iraq oil development could be worth $25bn

  12 March 2025

  Register for MEED’s 14-day trial access 

  UK-based BP’s planned investment in developing several giant oil fields in Kirkuk could be worth as much as $25bn, including investments in oil, gas, power and water.

  The Iraqi oil and gas expert Ali Khalil said: “The agreement with Iraq’s Ministry of Oil is expected to help revive output at the North Oil Company, which has struggled since the 2014 Islamic State insurgency and subsequent stagnation.”

  Speaking to Iraq-based Shafaq News, Khalil said that the contract would have an investment value of around $25bn and would contribute to the development of the North Gas Company and the construction of solar-powered power stations.

  BP previously said that, on top of investments in oil, gas, power and water, the contract has the potential for investment in exploration.

  Khalil said BP’s investment is intended to increase crude oil production from the Kirkuk fields by about 150,000 barrels a day (b/d), targeting a total capacity of at least 450,000 b/d within two to three years.

  Kirkuk’s oil output has seen sharp declines over the years. Between 2005 and 2010, production ranged from 600,000 to 725,000 b/d, with around 500,000 b/d exported to Turkiye’s Ceyhan port. By 2014, production had fallen to 400,000-500,000 b/d, dropping further to 250,000-325,000 b/d in the following years due to reduced well productivity.

  In December last year, BP agreed technical terms for developing the Kirkuk oil fields.

  This was followed by an agreement on all contractual terms, which was announced on 25 February 2025.

  The contract was then signed on 10 March 2025.

  In a statement, Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul-Ghani called the contract signing for the development of NOC fields a “major achievement” for both the ministry and the company.

  He said that the development and rehabilitation efforts would boost national production, and increase gas investment and production to support electricity generation.

  He added that "the ministry is focused on maximising the state's oil and gas resources, which will positively impact the federal budget’s financial resources.”

  The contract includes the rehabilitation and development of the four Kirkuk oil fields:

  • Baba and Avana domes
  • Bai Hassan
  • Jambur
  • Khabbaz

  Last week, a delegation from BP visited the NOC’s headquarters to finalise steps for rehabilitating the four fields.

  BP, which was part of the consortium that discovered oil in Kirkuk in the 1920s, previously signed a letter of intent in 2013 to study the Kirkuk fields’ development, but the plan was suspended in 2014 after Islamic State took control of parts of northern and western Iraq.

  ---

  READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDF

  Chinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025

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

  > AGENDA 1: Chinese firms dominate region’s projects market > AGENDA 2: China construction at pivotal juncture > LIBYA: Uncertainty and instability damage Libyan oil sector optimism > UPSTREAM 1: Offshore oil and gas sees steady capex > UPSTREAM 2: Saudi Arabia to retain upstream dominance > BAPCO: Bahrain to benefit from $7bn project by year’s end > MASDAR: Masdar meets renewable’s moonshot challenge > DIRIYAH: Diriyah CEO sets the record straight > SAUDI POWER: Saudi power projects hit record high > AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector > EGYPT: Egypt battles structural issues > GULF PROJECTS INDEX: Gulf hits six-month growth streak > CONTRACT AWARDS: High-value deals signed in power and industrial sectors > ECONOMIC DATA: Data drives regional projects > OPINION: Trump’s foreign policy shakes global relations

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

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13475496/main0313.jpg

  Wil Crisp
• 
  Masdar plans Emerge share sale

  12 March 2025

  Abu Dhabi Future Energy Company (Masdar) plans to divest its 50% stake in Emerge Energy, a commercial and industrial (C&I) solar and storage developer headquartered in the UAE and Saudi Arabia.

  France's EDF owns the other 50% stake in Emerge.

  According to industry sources, Masdar has appointed an advisory firm, Netherlands-based KPMG, which has started to approach potential investors.

  A Dubai-based executive with an international infrastructure investor said they are aware of the planned sale and are keen to better understand the region's C&I market.

  Founded in Abu Dhabi in 2021, Emerge has 152MW of capacity in operation and delivery across Saudi Arabia and the UAE, according to its website.

  Its clients include Abu Dhabi Midfield Terminal, Etihad Rail, Sea World and Warner Bros in Abu Dhabi and Dubai Maritime City.

  In 2024, it signed a 110MW partnership with the UAE Ministry of Defence.

  In October 2023, Sharjah National Oil Corporation (SNOC) and Emerge signed an agreement for a 60MW solar power project.

  The two firms agreed to develop solar photovoltaic farms at SNOC’s Sajaa gas complex. The plant will supply power to SNOC and connect to the emirate’s main power grid. It will be implemented on a build-own-operate-transfer basis over 25 years.

  MEED has contacted Masdar and EDF for comment. EDF said that it cannot comment on market speculation. 

  Photo credit: Emerge (for illustrative purposes only)

  ---

  READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDF

  Chinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025

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

  > AGENDA 1: Chinese firms dominate region’s projects market > AGENDA 2: China construction at pivotal juncture > LIBYA: Uncertainty and instability damage Libyan oil sector optimism > UPSTREAM 1: Offshore oil and gas sees steady capex > UPSTREAM 2: Saudi Arabia to retain upstream dominance > BAPCO: Bahrain to benefit from $7bn project by year’s end > MASDAR: Masdar meets renewable’s moonshot challenge > DIRIYAH: Diriyah CEO sets the record straight > SAUDI POWER: Saudi power projects hit record high > AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector > EGYPT: Egypt battles structural issues > GULF PROJECTS INDEX: Gulf hits six-month growth streak > CONTRACT AWARDS: High-value deals signed in power and industrial sectors > ECONOMIC DATA: Data drives regional projects > OPINION: Trump’s foreign policy shakes global relations

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

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13473974/main0319.jpg

  Jennifer Aguinaldo