Siemens Energy signs Iraq contracts
10 March 2023
Iraq’s Electricity Ministry has awarded Germany’s Siemens Energy long-term service contracts for several power plants in the country.
The three service contracts, each lasting five years, are for the Al-Sadr, Kirkuk and Al-Rasheed power stations in Iraq.
The three plants have the capacity to generate more than 1GW of electricity.
“These contracts represent the first portion of prioritized projects under the Iraq Energy Agenda – Wave II agreement, which was signed in Berlin in January 2023 between Siemens Energy and the Ministry of Electricity of the Republic of Iraq,” Siemens said on 7 March.
The contracts aim to improve energy stability and availability, as well as provide training, skills, and employment opportunities for Iraqis.
In May 2021, Siemens Energy signed a contract with Iraq’s Electricity Ministry to rebuild the West Mosul 400-kilovolt (kV) substation, which was destroyed in 2014.
Siemens Energy’s scope of work includes the design, equipment manufacturing, construction, site delivery, testing and commissioning for the turnkey 400/132/11kV substation project together with the supply of 13 auto transformers.
The planned 400-kV station will supply approximately 30 stations with voltage levels of 132-kV and help tackle the severe shortage of power supply in Iraq's Nineveh province. German state-owned development bank KfW will finance the project.
In 2019, Siemens and the Electricity Ministry signed an implementation agreement for the execution of the Iraq Roadmap, which includes the addition of new and highly efficient power generation capacity, rehabilitation and upgrade of existing plants and the expansion of transmission and distribution networks.
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QatarEnergy awards contract for 2GW Dukhan solar plant
16 September 2025
State-owned petroleum firm, QatarEnergy has signed an agreement with South Korea's Samsung C&T to build a 2,000 MW solar power plant in Dukhan, about 80 kilometres west of Doha.
The plant will double Qatar’s solar generation capacity, suppling up to 30% of Qatar’s total peak electricity demand once complete. It will use a solar tracker system and inverters, capable of operating in high temperatures, to maximise efficiency.
The project will be delivered in two phases and is expected to be fully operational by mid-2029.
The first phase of the Dukhan solar plant will deliver 1,000 MW of power to the Kahramaa grid by the end of 2028.
The agreement was signed by Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and QatarEnergy CEO, and Sechul Oh, President & CEO of Samsung C&T.
Senior officials from Kahramaa and executives from both companies also attended the ceremony.
Under QatarEnergy’s Sustainability Strategy, the country plans to generate more than 4,000 megawatts of renewable energy by 2030.
Qatar's first utility-scale solar PV, the 800MW Al-Kharsaah solar independent power producer project, has been operational since 2022.
In August 2022, Samsung C&T won contracts for two other solar PV plants with a total combined capacity of 875MW.
One of the solar plants, which has a capacity of 458MW, is located in Ras Laffan. The other plant is located in Mesaieed and will have a capacity of 417MW.
Construction work on both projects was completed earlier this year.
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Transmission projects drive Saudi water sector growth
16 September 2025
Saudi Arabia’s water sector is on track for a strong year, driven by a surge in pipeline activity.
The market continues to be dominated by transmission projects, reflecting the kingdom’s focus on expanding networks to deliver water from supply facilities to cities and industrial hubs.
So far in 2025, $8.3bn of water contracts have been awarded, with pipelines accounting for $5.1bn, or more than 60% of total awards.
Recent activity indicates that pipeline growth goes beyond awarded contracts, with major tenders pointing to more work ahead.
Pipeline activity
In September, Water Transmission Company (WTCO) opened bidding for the construction of two major water pipelines that will deliver over 1.38 million cubic metres a day (cm/d) of water across central and western Saudi Arabia.
The Jubail-Buraidah project, scheduled to begin construction in 2027, comprises approximately 348 kilometres of pipeline with a transmission capacity of 840,650 cm/d.
The Ras Mohaisen-Baha-Mecca independent water transmission system project, which aims to supply the cities of Mecca and Al-Baha with desalinated water, has a maximum design flow rate of 542,000 cm/d. It requires a pipeline approximately 325km long, including four pumping stations. Both projects are being developed under the public-private partnership (PPP) model.
Saudi Arabia also has even larger independent water transmission pipeline (IWTP) initiatives under way.
One such project, valued at $2.3bn, also linking Jubail and Buraidah, spans 587km and will carry 650,000 cm/d. In June, the local Mutlaq Al-Ghowairi Contracting Company secured the engineering, procurement and construction contract for this project.
Pipeline activity is set to dominate in the short to medium term, with $6.9bn of projects under bid evaluation related to transmission networks, more than 60% of all bids.
This includes the Alshuqaiq to Jizan water transmission system: phase 4, for which an award is expected to be made by the end of the year, having first been tendered in 2023.
The project, valued at $3bn and procured by WTCO, will require a water pipeline of 523km in length with a capacity of 600,000 cm/d.
Broader sector
While pipelines clearly dominate, the wider water sector in 2025 is showing robust performance. Total awarded contracts in the sector stand at $8.3bn to date, highlighting sustained investment.
For context, total contracts awarded were $15.5bn in 2023 and $15.5bn in 2024, placing this year on track for another significant period of sector activity.
Other segments continue to attract notable investment, with desalination projects contributing $2.4bn and water treatment plants accounting for $428m of awards so far.
In June, construction work began on the second phase of the Shuaibah seawater reverse osmosis (SWRO) desalination plant, following the appointment of Al-Fatah Water & Power as the main contractor.
Located on the Red Sea coast south of Jeddah, the $521m project involves the construction of a SWRO desalination plant, with a capacity of 545,000 cm/d, over an area of 25 hectares.
In September, a consortium of Saudi utilities provider Marafiq, the regional business of France’s Veolia and Bahrain/Saudi Arabia-based Lamar Holding won a $500m (SR1.875bn) contract to develop an industrial wastewater treatment plant in Jubail Industrial City 2, located in Saudi Arabia’s Eastern Province.
The project follows a concession-style model, similar to a PPP, where the developer consortium invests in building and operating the wastewater plant over a 30-year period. Construction is expected to begin by the end of the year.
Key players
Driving the market forward are a handful of key players, including Water Transmission & Technologies Company (WTTCO), which has awarded five contract awards worth $1.7bn in 2025.
Saudi Water Partnership Company (SWPC) is also active at the top end, with three contracts valued at $2.75bn, often implemented under PPP models.
Saudi gigaproject developer Diriyah Company awarded one contract this year: a $1.1bn deal for a utilities relocation package for the King Saud University project located in the second phase of the Diriyah Gate development (DG2).
The contract was awarded to the joint venture of Beijing-headquartered China Railway Construction Corporation and China Railway Construction Group Central Plain Construction Company.
The deal involves the construction of several water infrastructure projects, including a district cooling plant, water storage facilities, a sewage treatment plant and irrigation water storage tanks.
Saudi Water Authority, meanwhile, accounts for 20 awarded projects worth $1.46bn, reflecting its focus on more localised or smaller-scale works, as is the case with several other entities.
The split of a few large, high-value megaprojects versus a larger number of smaller, lower-value contracts suggests opportunities for both top-tier players delivering megaprojects and mid-tier contractors participating in more localised or bundled works.
Looking ahead, $26.9bn of water projects are currently out for tender, suggesting significant activity in the years ahead, with water pipeline work ($11.9bn) continuing to lead the way.
MEED’s October 2025 special report on Saudi Arabia also includes:
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> TRANSPORT: Infrastructure takes centre stage in Saudi strategyhttps://image.digitalinsightresearch.in/uploads/NewsArticle/14674379/main.gif -
WEBINAR: GCC water projects market outlook and review
15 September 2025
Date & Time: Wednesday 24 September 2025 | 11:00 AM GST
Agenda:
1. Latest updates on the GCC water sector projects market
2. Summary of the key water sector contracts and projects awarded year to date
3. Analysis of the key trends, opportunities and challenges facing the sector
4. Highlights of key contracts to be tendered and awarded over the next 18 months
5. Long-term capital expenditure outlays and forecasts
6. Top contractors and clients
7. Breakdown of spending by segment, i.e. desalination, storage, transmission and treatment
8. The evolution of the PPP model framework in the delivery of water projects
9. Key drivers and challenges going forward
Hosted by: Edward James, head of content and analysis at MEED
A well-known and respected thought leader in Mena affairs, Edward James has been with MEED for more than 19 years, working as a researcher, consultant and content director. Today he heads up all content and research produced by the MEED group. His specific areas of expertise are construction, hydrocarbons, power and water, and the petrochemicals market. He is considered one of the world’s foremost experts on the Mena projects market. He is a regular guest commentator on Middle East issues for news channels such as the BBC, CNN and ABC News and is a regular speaker at events in the region.
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Alec set to launch IPO on Dubai Financial Market
15 September 2025
UAE-based Alec Holdings has announced that it will list 20% of its share capital on the Dubai Financial Market through an initial public offering (IPO).
According to an official statement, the firm will offer 1 billion shares, representing 20% of its share capital. The subscription will be offered in three tranches and will open on 23 September and close on 30 September.
The first tranche comprises individual subscribers, the second includes professional investors, and the third tranche is reserved for eligible employees of Alec and the Investment Corporation of Dubai (ICD).
ICD, the investment arm of the Government of Dubai, is currently the sole shareholder of Alec. It will retain 80% of Alec’s issued share capital following the offering.
Emirates NBD Capital and JP Morgan Securities have been appointed as joint global coordinators. Both firms, along with Abu Dhabi Commercial Bank and EFG Hermes, have been appointed as joint bookrunners.
Moelis & Company is the independent financial adviser.
Emirates NBD has been appointed as the lead receiving bank.
Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al-Maryah Community Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank and Wio Bank have also been appointed as receiving banks.
“Alec intends to distribute a cash dividend of AED200m, payable in April 2026, and a cash dividend of AED500m for the financial year ending 31 December 2026, payable in October 2026 and April 2027,” the statement added.
“The company further intends to distribute cash dividends in April and October of each year, with a minimum payout ratio of 50% of the net profit generated for the relevant financial period, subject to the approval of the board of directors and the availability of distributable reserves,” Alec said.
Alec Holdings’ core businesses include Alec Construction and Target Engineering.
Other businesses include Alec Fitout, Alemco, Alec Data Centre Solutions, Alec Technologies, Alec Lite, Alec Facades, Linq Modular, Alec Energy and AJI Rentals.
READ THE SEPTEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF
Doha’s Olympic bid; Kuwait’s progress on crucial reforms reinforces sentiment; Downstream petrochemicals investments take centre stage
Distributed to senior decision-makers in the region and around the world, the September 2025 edition of MEED Business Review includes:
> OLYMPICS: Qatar banks on infrastructure for Olympic bid> QATAR TOURISM: Olympics bid aims to extend tourism gains> CURRENT AFFAIRS: Syria charts post-war reconstruction course> INDUSTRY REPORT: Regional chemicals spending set to soar> DOWNSTREAM: Adnoc set to become a chemicals major> SAUDI STADIUMS: Stadiums become main event for Saudi construction> CONSTRUCTION: Middle East to be a growth leader for global construction> LEADERSHIP: Dubai’s sea-air logistics model powers resilient trade> KUWAIT MARKET FOCUS: Kuwait’s political hiatus brings opportunityTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/14667572/main.jpg -
Kuwait sets October deadline for residential PPP bids
15 September 2025
Kuwait’s Public Authority for Housing Welfare (PAHW) has invited local and international firms to submit their statements of qualifications (SoQs) by 30 October for a tender covering the development of three residential cities under a public-private partnership (PPP) framework.
The projects will be developed on a design, finance, build, operate, maintain, sell and transfer basis. The contract term is 30 years, with four years allocated for construction.
The projects include:
- Al-Mutlaa City (2.12 million square metres)
- East Saad Al-Abdullah City (1.02 million sq m)
- West Saad Al-Abdullah and the commercial services strip in Jaber Al-Ahmad City (1.01 million sq m)
Interested companies can collect the request for qualification (RFQ) documents between 18 September and 1 October.
To qualify, firms must have at least 10 years of experience in delivering large-scale residential or mixed-use developments.
These projects will be the first to be implemented under Kuwait’s new real estate development law, introduced in 2023. The law opens Kuwait's housing sector to private investment and enables the establishment of joint ventures between local and foreign investors to deliver new developments on a PPP basis.
Kuwait construction market overview
Kuwait’s construction and infrastructure projects market continued its recovery in the first half of 2025, with over $1.8bn-worth of contracts awarded by 8 August.
The outlook for the remainder of the year appears promising, following the government’s approval of capital spending worth KD1.7bn ($5.7bn) in May for more than 90 projects.
According to local media, these projects include rail, road, water and electricity infrastructure, as well as the Grand Mubarak Port.
The country invested over $45bn in construction and transport projects during 2015 and 2016, amid high oil prices. However, parliamentary gridlock and declining oil revenues since then led to a slowdown in contract awards.
The sector has seen particularly low award levels since 2019, when the total fell below $2bn for the first time. Awards increased modestly in 2020 and 2021, but then dropped again to a low of $1.4bn in 2022.
In contrast, 2023 marked a significant recovery, with awards reaching $3.6bn.
According to data from regional tracker MEED Projects, 2024 was the best year in recent times, with contract awards totalling approximately $5.6bn for construction and infrastructure schemes.
READ THE SEPTEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF
Doha’s Olympic bid; Kuwait’s progress on crucial reforms reinforces sentiment; Downstream petrochemicals investments take centre stage
Distributed to senior decision-makers in the region and around the world, the September 2025 edition of MEED Business Review includes:
> OLYMPICS: Qatar banks on infrastructure for Olympic bid> QATAR TOURISM: Olympics bid aims to extend tourism gains> CURRENT AFFAIRS: Syria charts post-war reconstruction course> INDUSTRY REPORT: Regional chemicals spending set to soar> DOWNSTREAM: Adnoc set to become a chemicals major> SAUDI STADIUMS: Stadiums become main event for Saudi construction> CONSTRUCTION: Middle East to be a growth leader for global construction> LEADERSHIP: Dubai’s sea-air logistics model powers resilient trade> KUWAIT MARKET FOCUS: Kuwait’s political hiatus brings opportunityTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/14667516/main.jpg