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  Kuwait approves major petchems project

  3 October 2025

  

   

  State-owned Kuwait Petroleum Corporation (KPC) has given its subsidiary Petrochemical Industries Company (PIC) preliminary approval to proceed with negotiations with a potential partner for its planned olefins plant in the country.

  The project, known as Olefins IV, is estimated to be worth $500m, according to MEED Projects.

  The latest approval from KPC for the project comes after the availability of the necessary feedstock for the project was confirmed, according to KPC’s most recent annual report.

  In July, MEED reported that feasibility studies for the project had been completed, but PIC was waiting for confirmation of the volumes of gas that would be available for the project as feedstock.

  The Olefins IV project is expected to use natural gas produced by upstream operator Kuwait Oil Company (KOC), another KPC subsidiary.

  There is currently uncertainty at PIC about when the front-end engineering and design work for the project will commence, according to industry sources.

  As part of PIC’s long-term strategy, which looks ahead to 2040, it is aiming to scale up its portfolio and leverage partnerships to add value.

  The company has stated that it aims to expand its core portfolio both within and outside Kuwait through greenfield and brownfield projects, with the goal of achieving a leading global position.

  It has also said that it wants to expand into downstream derivatives linked to its base petrochemicals portfolio.

  Chinese chemicals

  Earlier this year, Wanhua Chemical Group Company signed an equity subscription agreement in which PIC subscribed to a 25% equity stake in selected petrochemical assets of Wanhua Chemical in Yantai, China.

  Olefins are a class of petrochemicals made up of hydrogen and carbon, with one or more pairs of carbon atoms linked by a double bond. Two of the most important are ethylene and propylene.

  Olefins are widely used as raw materials in the manufacture of chemicals and polymer products, such as plastics, detergents, adhesives, rubber and food packaging.

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

  Private sector takes on expanded role; Riyadh shifts towards strategic expenditure; MEED’s 2025 power developer ranking

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

  > AGENDA 1: A new dawn for PPPs > AGENDA 2: GCC pushes PPPs to deliver $70bn pipeline > CHINA: China’s Belt and Road initiative surges in Middle East  > TUNISIA: Tunisia’s president faces growing challenge from unions > POWER DEVELOPER RANKING: Acwa Power consolidates power sector dominance > IPPs: GCC enters pivotal year for IPPs > ACQUISITION: Wood takeover could boost Sidara profits > INTERVIEW: SLB strives to boost regional standing  > ALEC: IPO is chance for Alec to showcase its capabilities > SAUDI MARKET FOCUS: Riyadh strives for sustainable growth

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

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  Wil Crisp
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  Three teams bid for Baghdad airport PPP

  3 October 2025

  

   

  Three consortiums have submitted bids for a contract to develop Baghdad International airport on a public-private partnership (PPP) basis.

  The scope of the estimated $400m-$600m project involves rehabilitating, expanding, financing, operating and maintaining the airport. It is the first airport PPP project to be launched in Iraq.

  Iraq’s Ministry of Transport and General Company for Airport & Air Navigation Services released the tender in July this year.

  According to sources, the bidding consortium are:

  • Asyad Holding / Top International Engineering Corporation / Lamar Holding / YDA Insaat / Dublin Airport Authority (Saudi Arabia/Saudi Arabia/Saudi Arabia/Turkiye/Ireland) 
  • Corporacion America Airports / Amwaj International (Luxembourg/Iraq)
  • ERG International / Terminal Yapi / ERG Insaat (UK/Turkiye/Turkiye)

  According to a statement posted on its website, the Ministry of Transport says the initial capacity of the airport is expected to be around 9 million passengers, which will be gradually increased to 15 million passengers.

  The International Finance Corporation (IFC), a member of the World Bank Group, is the project’s lead transaction adviser.

  In August, MEED reported that Iraqi Prime Minister Mohammed Al-Sudani had met with companies bidding for the contract to develop Baghdad International airport.

  The meeting took place in Baghdad and was also attended by officials from IFC.

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

  Private sector takes on expanded role; Riyadh shifts towards strategic expenditure; MEED’s 2025 power developer ranking

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

  > AGENDA 1: A new dawn for PPPs > AGENDA 2: GCC pushes PPPs to deliver $70bn pipeline > CHINA: China’s Belt and Road initiative surges in Middle East  > TUNISIA: Tunisia’s president faces growing challenge from unions > POWER DEVELOPER RANKING: Acwa Power consolidates power sector dominance > IPPs: GCC enters pivotal year for IPPs > ACQUISITION: Wood takeover could boost Sidara profits > INTERVIEW: SLB strives to boost regional standing  > ALEC: IPO is chance for Alec to showcase its capabilities > SAUDI MARKET FOCUS: Riyadh strives for sustainable growth

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

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  Yasir Iqbal
• 
  Qatari-led team signs Syria airport consultancy agreements

  3 October 2025

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  A consortium led by Qatar’s UCC Holding has signed five consultancy and design agreements for the redevelopment of Damascus International airport in Syria.

  UCC Holding said in a statement that the agreements were signed with the following companies:

  > Hesco Hammada Engineering Services: Responsible for the design and redevelopment of Terminals 1 and 2, the design of the new Terminal 3 and all associated facilities.

  > H’Collective: Responsible for the architectural and interior design of the new Damascus Airport hotel.

  > Dar Al-Handasah: Will serve as the Project Management Office (PMO), responsible for site supervision, design review and approval, oversight of design development, schedule verification, interim payments, and ensuring quality, safety and timely delivery. The scope also covers the study to upgrade the Damascus Airport road.

  > DG Jones & Partners: Responsible for contract management, cost control and quantity surveying for the project.

  > Joint venture of Elegancia Catering and Newrest Gulf: Will oversee the design and operation of the airport’s central kitchen and in-flight catering facilities.

  In August, Syria’s General Authority of Civil Aviation signed a $4bn memorandum of understanding (MoU) to develop and expand Damascus International airport with a consortium of international firms led by Qatar’s UCC Holding.

  The agreement designates UCC Holding as the primary developer – through its investment arm, UCC Concessions Investment – alongside three Turkish partners: Cengiz, Kalyon and TAV, and US-based Assets Investments USA.

  The project will be implemented under a build-operate-transfer (BOT) model and includes the expansion of Damascus International airport in five phases.

  The expansion will ultimately increase the airport’s capacity to handle 31 million passengers annually.

  The agreement also includes the construction of a 50-kilometre access road to the airport and $250m in financing to purchase up to 10 Airbus A320 aircraft for Syrian Airlines.

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

  Private sector takes on expanded role; Riyadh shifts towards strategic expenditure; MEED’s 2025 power developer ranking

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

  > AGENDA 1: A new dawn for PPPs > AGENDA 2: GCC pushes PPPs to deliver $70bn pipeline > CHINA: China’s Belt and Road initiative surges in Middle East  > TUNISIA: Tunisia’s president faces growing challenge from unions > POWER DEVELOPER RANKING: Acwa Power consolidates power sector dominance > IPPs: GCC enters pivotal year for IPPs > ACQUISITION: Wood takeover could boost Sidara profits > INTERVIEW: SLB strives to boost regional standing  > ALEC: IPO is chance for Alec to showcase its capabilities > SAUDI MARKET FOCUS: Riyadh strives for sustainable growth

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

   

  Register for MEED’s 14-day trial access 

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  Yasir Iqbal
• 
  Saudi Arabia maintains growth momentum

  3 October 2025

  Download the PDF

  

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  MEED’s October 2025 special report on Saudi Arabia includes:

  > COMMENT: Riyadh strives for sustainable growth
  > GOVERNMENT: Riyadh confronts rising regional chaos
  > ECONOMY: Riyadh looks to adjust investment approach
  > BANKING: New funding sources solve Saudi liquidity challenge
  > OIL & GAS: Aramco turns attention to strategic projects
  > GAS: Saudi Arabia and Kuwait accelerate Dorra gas field development
  > POWER: Saudi Arabia accelerates power transformation
  > WATER: Transmission projects drive Saudi water sector growth
  > CONSTRUCTION: Saudi construction pivots from gigaprojects to events
  > TRANSPORT: Infrastructure takes centre stage in Saudi strategy
  > DATABANK: Saudi Arabia maintains growth momentum

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

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  MEED Editorial
• 
  Dubai extends bid deadline for Jebel Ali drainage project

  2 October 2025

  

   

  Dubai Municipality has extended the bid deadline for a stormwater drainage system in Jebel Ali and the surrounding areas.

  The new deadline is 16 October, a source close to the project told MEED.

  The project covers approximately 27 kilometres of stormwater network and will serve major transport routes, including Sheikh Zayed Road and Al-Jamayel Road.

  The bid submission date for the tender, listed as TF-05-C1, was initially 2 October.

  Works include the installation of pipes ranging from 600 millimetres to 3,500 millimetres, construction of a high-capacity pump station with a capacity of 10 cubic metres a second, and development of open channels and catch basins. The system will be integrated with existing infrastructure.

  Dubai Municipality said the project is intended to manage runoff efficiently, improve road network reliability during storms, and support ongoing and future development in the Jebel Ali area.

  The scheme is being procured by the municipality’s Sewerage and Recycled Water Projects Department as part of the Tasreef programme.

  The latest tender follows a string of recent drainage and stormwater tenders by the municipality.

  Bidding is ongoing for a separate project to develop a stormwater pond, evacuation line and pumping station, including a drainage system along the Dubai-Al-Ain road.

  The bid submission date for this tender, listed under RFQ 229910, was moved to 9 October.

  The initial deadline was 25 September.

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

  Private sector takes on expanded role; Riyadh shifts towards strategic expenditure; MEED’s 2025 power developer ranking

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

  > AGENDA 1: A new dawn for PPPs > AGENDA 2: GCC pushes PPPs to deliver $70bn pipeline > CHINA: China’s Belt and Road initiative surges in Middle East  > TUNISIA: Tunisia’s president faces growing challenge from unions > POWER DEVELOPER RANKING: Acwa Power consolidates power sector dominance > IPPs: GCC enters pivotal year for IPPs > ACQUISITION: Wood takeover could boost Sidara profits > INTERVIEW: SLB strives to boost regional standing  > ALEC: IPO is chance for Alec to showcase its capabilities > SAUDI MARKET FOCUS: Riyadh strives for sustainable growth

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

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  Mark Dowdall