Contractors submit bids for next phase of Duba port
2 June 2023
Contractors have submitted bids for the next phase of the Duba port expansion at Oxagon industrial city.
The bidders are Belgium’s Deme with Greece’s Archirodon; Van Oord of the Netherlands with South Korea’s Hyundai Engineering & Construction; a Belgian joint venture of Jan de Nul and Besix; Netherlands-based Boskalis with France’s Soletanche Bachy; South Korea’s Daewoo; and China Harbour Engineering Company.
The tender for the project’s second phase follows the award of a contract to deliver the first phase of the port expansion. A team of Boskalis, Besix and the local Modern Building Leaders (MBL) was awarded that estimated SR3bn ($800m) contract in mid-January.
The scope of the Duba port expansion package includes excavation and dredging, revetments for channel widening, demolition, container terminal quay expansion and earthworks, in addition to the development of a flexible quay, a roll-on/roll-off (RoRo) berth and quay walls to a marine services berth and a coast guard facility.
Jacobs is the main design consultant, with Moffatt & Nichol, IGO and Trent as the main sub-consultants.
Contractors are preparing to submit bids in June for a contract to build tunnels connecting the offshore elements of the Oxagon industrial city at Neom to the mainland.
The design-and-build contract involves digging a 6.5-metre-diameter tunnel using a tunnel boring machine (TBM) under the sea that will link the Neom Connector with the offshore elements of Oxagon port. It will house utilities including water pipelines, fibre optic cables and electricity cables.
Crown Prince Mohammed bin Salman launched Oxagon in late 2021. It will include onshore elements as well as floating structures offshore. Construction works on the 48 square-kilometre, eight-sided industrial city have already started.
An expanded Duba port is a critical component of Oxagon and the broader Neom development, as it will allow greater volumes of materials to be imported for the project. With an expected investment value of $500bn, Neom is the largest programme of construction work in the world.
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Lowest bidders emerge for Oman Sinaw-Duqm road
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Aramco turns attention to strategic projects
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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 -
Lowest bidders emerge for Oman Sinaw-Duqm road
15 September 2025
Oman’s Ministry of Transport, Communications and Information Technology has opened bids for two contracts covering the upgrade of sections three and four of the Sinaw-Mahout-Duqm road.
According to results published by the Oman Tender Board, local firm Galfar Engineering & Contracting submitted the lowest bid of RO51m ($215.6m) for section three of the project.
The other bidders are:
- Strabag ($206m)
- Sarooj Construction ($244.3m)
- Rimal Global Group ($285.6m)
- Oman Gulf Company (undisclosed)
The third section spans 83 kilometres (km) and extends from the Al-Jouba roundabout in the Wilayat of Mahout towards Duqm. It consists of a single carriageway with two lanes, each lane measuring 3.75 metres in width.
For the fourth section, the Austrian firm Strabag submitted the lowest bid of RO79m ($206m).
The other bidders for this section include:
- Galfar Engineering & Contracting ($215.6m)
- Sarooj Construction ($244.3m)
- Rimal Global Group ($285.6m)
- Oman Gulf Company (undisclosed)
This section of the project spans about 49km, stretching from Sarab to the boundaries of the Special Economic Zone at Duqm near Nafun.
This project will serve as a key piece of infrastructure linking North Al-Sharqiyah to the Special Economic Zone at Duqm.
UK analytics firm GlobalData expects the Omani construction industry to register an annual average growth rate of 4.2% from 2025 to 2028, supported by investments as part of the Oman Vision 2040 strategy. Under this strategy, the government plans to allocate RO20bn ($52bn) to the tourism sector and aims to attract 11 million visitors annually by 2040.
The infrastructure construction sector was estimated to grow by 6.1% in 2024 and is projected to record an annual average growth rate of 5.4% from 2025 to 2028. Growth will be driven by Muscat’s efforts to upgrade the road, railway and airport infrastructure to improve connectivity across the sultanate.
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/14667488/main.gif -
Aramco turns attention to strategic projects
12 September 2025
In the second quarter of 2025, Saudi Aramco’s capital expenditure (capex) stood at $12.3bn, marking a marginal year-on-year increase of 1.46%. For the first half of the year, the company recorded capex of $24.85bn, up 9.5% compared to the same period last year.
The company had earlier issued capital investment guidance of $52bn to $58bn for 2025, excluding approximately $4bn in project financing.
Concerns grew in Saudi Arabia’s offshore oil and gas projects market earlier this year as engineering, procurement, construction and installation (EPCI) contract awards stalled.
Aramco spent a record $5bn on offshore EPCI contracts in 2024 and was expected to surpass that in 2025. However, it awarded no Contract Release Purchase Orders (CRPOs) in the first half of the year, fuelling apprehension among contractors and suppliers.
In July, Aramco dispelled speculation by awarding five tenders worth over $3bn. The CRPOs are numbers 150, 157, 158, 159 and 160, and involve EPCI work and infrastructure upgrades at the Abu Safah, Berri, Manifa, Marjan and Zuluf offshore oil fields.
Aramco also awarded four additional CRPOs as part of a large-scale infrastructure expansion at the Zuluf offshore field. These are CRPOs 145, 146, 147 and 148, with a combined estimated value of nearly $6bn.
With these contract awards, Aramco has nearly doubled its offshore capex this year compared to 2024, marking another year of robust upstream investment.
Looking ahead, Aramco is evaluating bids received for seven key tenders in July and August.
These tenders include CRPOs 154, 155 and 156, representing the next phase of infrastructure expansion at the Safaniya offshore oil field; CRPO 161, which covers the EPCI of four gas jackets at the Arabiyah, Hasbah and Karan fields; and CRPOs 162, 163 and 164, relating to the EPCI of key infrastructure at the Abu Safah, Berri, Karan, Marjan and Safaniya fields.
Onshore projects advance
In parallel with the Safaniya offshore expansion, Aramco is tendering a separate project to build onshore surface and processing facilities to handle additional volumes of oil and associated gas generated by the expanded offshore infrastructure.
The scope of the Safaniya onshore facilities project has been divided into two main EPC packages: the first covering water treatment and injection units, and the second focused on produced water utilities. Contractors have been given deadlines of 24 October and 7 November to submit technical and commercial bids.
Aramco is also understood to be close to awarding the main EPC contracts for the expansion of the Haradh gas-oil separation plant 3 (Gosp 3) in Saudi Arabia. Located within the Haradh hydrocarbons development in the Eastern Province, the project will increase output of the Arab Light crude grade from 300,000 barrels a day (b/d) to 420,000 b/d. It will also raise sour gas production to 32 million cubic feet a day (cf/d).
Ramping up gas production
In line with its goal of increasing gas production, Aramco is progressing its Jafurah unconventional gas programme. Situated in Saudi Arabia’s Eastern Province, the Jafurah Basin contains the largest liquid-rich shale gas play in the Middle East, with an estimated 200 trillion cubic feet of gas in place. The shale play spans approximately 17,000 square kilometres.
The Jafurah programme is a cornerstone of Aramco’s long-term gas strategy, with total lifecycle investment expected to exceed $100bn. In February 2020, Aramco received a capex allocation of $110bn from the Saudi government to support the long-term phased development of the unconventional gas resource base.
Aramco is estimated to have spent $25bn across the first three phases of Jafurah’s development. In November 2021, the company awarded $10bn in subsurface and EPC contracts for phase one of the programme.
On 30 June 2024, Aramco awarded 16 contracts worth approximately $12.4bn for phase two. The scope includes the construction of gas compression facilities, associated pipelines and the expansion of the Jafurah gas plant – covering gas processing trains, utilities, sulphur handling and export infrastructure.
In July 2024, a consortium of Spain’s Tecnicas Reunidas and China’s Sinopec was awarded a $2.24bn EPC contract by Aramco for phase three of the expansion.
Phase four of the Jafurah expansion is estimated at $2.5bn. The scope includes EPC works for three gas compression plants, each with a capacity of 200 million cf/d. Bids were submitted in mid-January, remain valid through September, and are under evaluation, with a contract award expected in Q4 2025.
Aramco is also tendering a major project to boost gas compression capacity at the Shedgum and Uthmaniya plants in the Eastern Province.
The facilities currently receive approximately 870 million cf/d and 1.2 billion cf/d of Khuff raw gas, respectively. The project aims to increase compression and processing capacity and to construct new pipelines to enhance gas transport.
Contractors are preparing bids for several EPC packages under the Shedgum and Uthmaniya gas compression project.
MEED’s October 2025 special report on Saudi Arabia also includes:
> ECONOMY: Riyadh looks to adjust investment approach
> BANKING: New funding sources solve Saudi liquidity challenge
> GAS: Saudi Arabia and Kuwait accelerate Dorra gas field development
> POWER: Saudi Arabia accelerates power transformation
> CONSTRUCTION: Saudi construction pivots from gigaprojects to events
> TRANSPORT: Infrastructure takes centre stage in Saudi strategyhttps://image.digitalinsightresearch.in/uploads/NewsArticle/14656451/main.png