Read the April 2024 MEED Business Review

2 April 2024

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The Middle East and North Africa (Mena) region is facing a massive infrastructure gap that will require an estimated $2tn-$2.5tn in investment by 2050.

In the latest issue of MEED Business Review, we discover how investment, technology and governance must all come together if governments are to successfully address this shortfall.

We also look at the important role that sustainable construction practices will play as the region strives to tackle the infrastructure deficit, potentially cutting emissions from planned projects in the Gulf by as much as 60%. 

Meanwhile, this month's exclusive 18-page market report highlights Saudi Arabia, which is maintaining a laser focus on its Vision 2030 economic diversification strategy as it gears up for the delivery of its gigaprojects. Regional tensions such as the war in Gaza and the escalating conflict in the Red Sea are not distracting Riyadh from its upstream and downstream oil and gas projects, power and water sector spending and transport infrastructure development.

MEED's latest issue is also packed with insight and analysis. The team examines Egypt's plans for the $54bn of
financial assistance
that Cairo has recently secured; considers the impact that Iran's $20bn project to boost production from the offshore South Pars gas field will have on the country’s energy security; and reveals the details of the new Vision 2030 strategy announced for the UAE's northern emirate of Ajman, which will guide the development of its projects for the rest of
this decade.

In this month's industry report on tourism, we see that tourist arrivals are on the rise in the GCC, with Dubai attracting 17.15 million international overnight visitors in 2023. A strong post-Covid recovery is under way in the travel sector across the region, and Saudi Arabia's efforts to boost its appeal as a tourism destination are reaping rewards: the kingdom welcomed more than 100 million visitors last year, achieving its 2030 goal seven years early. To support and build on this success, there is a pipeline of $54bn-worth of new hotel and resort projects planned for the Mena region and due for delivery by 2030.

The April issue also includes an interview with Ibrahim Waili of the Oman National Spatial Strategy, in which he discusses the sultanate's plans to build a year-round global mountain destination on Jebel Al Akhdar in the Hajar Mountains. We also talk to John van der Velden of Linde Engineering about the regional oil and gas sector’s increasing reliance on new technologies.

We hope our valued subscribers enjoy the April 2024 issue of MEED Business Review

 

Must-read sections in the April 2024 issue of MEED Business Review include:

AGENDA: Bridging the infrastructure capacity gap; Cutting Gulf construction emissions

> CURRENT AFFAIRS: Cairo secures a cumulative $54bn in financing; The stakes are high for Iran’s planned gas projects 

INDUSTRY REPORT:
Regional travel and tourism trends 
GCC becomes a top tourist destination

Region heads for hotel boom

> INTERVIEWS: Oman plans year-round global mountain destination; Process technology adoption is poised for growth

> AJMAN 2030: Ajman launches 2030 vision

> INSIGHT: Pressure builds for region's green hydrogen projectsRed Sea crisis raises Saudi construction costs

> LEADERSHIP: Region must rethink talent acquisition

> SAUDI ARABIA MARKET REPORT:

Riyadh maintains Vision 2030 focus
Saudi Arabia seeks diversification amid regional tensions
Saudi lenders gear up for corporate growth
Aramco spending drawdown to jolt oil projects
Master Gas System spending stimulates Saudi downstream sector

Riyadh to sustain power spending
Growth inevitable for the Saudi water sector
Saudi gigaprojects propel construction sector
Saudi Arabia’s transport sector offers prospects

MEED COMMENTS: 
Dubai reshuffles real estate when market is buoyant
Red Sea crisis makes case for Saudi Landbridge
Oman gives renewables a serious shot
Saudi Arabia pivots to ESG-friendly tech

> GULF PROJECTS INDEX: UAE and Qatar drive projects growth

> FEBRUARY 2024 CONTRACTS: Region sees drop in project awards in February

> MARKET SNAPSHOT: Top airport projects

> OPINIONNew shock treatment for Egypt’s economy

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
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    23 September 2026

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    State-owned upstream operator Kuwait Oil Company (KOC) has awarded an oil project contract worth KD117m ($381m) to India’s Megha Engineering & Infrastructure (Meil).

    The Supreme Purchasing Committee for Kuwait Petroleum Corporation (KPC) approved the contract last month, paving the way for the official award.

    The project focuses on a water separation unit at the Al-Rawdatain facility in Kuwait.

    The water separation facility will be developed at Gathering Centre 25 (GC-25), along with a pumping facility at GC-30.

    The project will deliver a wide-ranging upgrade of processing and utility infrastructure, including new low-pressure separation and gas-handling equipment such as a three-phase wet separator package, a gas knock-out drum and associated low-pressure gas pipelines, as well as a high-integrity pressure protection system and a high-pressure flare.

    Meil will develop the new three-phase low-pressure wet separation facility at GC-25.

    The main process equipment will include two wet separator packages, each with a capacity of 150,000 barrels of liquid a day, and a low-pressure gas knock-out drum with a capacity of 53 million standard cubic feet a day, together with associated gas-handling facilities.

    The facility will also incorporate an effluent water treatment and transfer system, including an effluent water balance tank equipped with microbubble flotation and induced gas flotation systems, as well as transfer pumps.

    Additional GC-25 facilities will include fuel gas treatment, chemical injection, oil recovery and flare connections, along with firewater and deluge systems.

    The scope also covers control and safety systems, substations, and associated civil, structural, mechanical, electrical and instrumentation works.

    At GC-30, the project will focus on treated-water filtration and high-pressure injection infrastructure.

    The scope includes nutshell filters and associated feed pumps with a combined capacity of approximately 500,000 barrels of water a day.

    Booster and injection pumps will transfer treated effluent water to designated injection wells.

    Additional facilities at GC-30 will include fuel gas treatment, sludge collection and disposal systems, oil recovery systems, control and safety systems, substations, laboratory and workshop facilities, and associated civil, structural, piping, mechanical, electrical and instrumentation works.

    The project also includes transfer pipelines connecting GC-25, GC-15 and GC-30.

    Meil will carry out modifications to existing tanks at GC-30, as well as process and utility tie-ins, electrical and instrumentation modifications and other infrastructure required to integrate the new facilities with KOC’s existing assets.

    Meil’s responsibilities cover the project lifecycle from design and engineering through procurement, construction, testing, pre-commissioning, commissioning, start-up and performance testing.

    The contract also includes operation, maintenance, repair and insurance responsibilities for the designated facilities during the applicable operations and maintenance period.

    Seven companies submitted bids for the project last November.

    The full list of bids was:

    • Meil (India) – KD117m ($381m)
    • Mechanical Engineering & Contracting Company (Kuwait) – KD130m
    • Spetco (Kuwait) – KD158m
    • Al-Kharafi (Kuwait) – KD164m
    • China Oil HBP Science & Technology (China) – KD169m
    • Alghanim International (Kuwait) – KD169m
    • Jereh Oil & Gas Engineering (China) – KD191m

    In October last year, KOC awarded Meil a separate contract for a project to develop a gas sweetening and recovery facility in west Kuwait.

    Meil submitted the lowest bid for that tender, at KD69.2m ($225.5m), in February 2025.

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  • Kuwait refinery project on track for year-end completion

    23 September 2026

     

    A $65m project to replace a substation at the Mina Al-Ahmadi (MAA) refinery is on schedule to be mechanically complete before the end of the year, according to industry sources.

    The project is being executed by India’s Larsen & Toubro (L&T), which was awarded the contract in October 2024.

    One source said: “This project is approaching completion and is currently on schedule to be completed before the end of the year, although it could still see delays related to the ongoing regional conflict.”

    The client is state-owned downstream operator Kuwait National Petroleum Company (KNPC).

    Kuwait’s Ministry of Electricity, Water & Renewable Energy (MEW) is also involved in the project and will provide final approvals and sign-off.

    The scope of the project includes:

    • Construction of a substation
    • Installation of transformers
    • Installation of medium-voltage switchgear
    • Installation of low-voltage auxiliary systems
    • Installation of network protection systems
    • Installation of disconnecting switches
    • Installation of surge arrestors
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    • Installation of low-voltage A/C and D/C equipment
    • Installation of battery banks and battery chargers
    • Installation of related relay and control panel boards
    • Installation of fire alarm and fire protection equipment
    • Installation of a SCADA system
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    • Civil works
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    The current project to replace a substation at the MAA refinery closely resembles another project tendered by KNPC more than a decade ago, which L&T also won.

    On 18 May 2015, KNPC signed a contract with L&T to build a new 240MW substation at the MAA refinery, valued at KD21.866m.

    The new substation, known as M20, was designed to replace an existing substation that was considered old and obsolete.

    Mohammed Al-Mutairi, who was KNPC’s chief executive at the time, said the substation building would be explosion-proof and use state-of-the-art control systems.

    He said the station’s capacity would increase from 180MW to 240MW, supplying most of the refinery’s electricity needs.

    Given the similarities between the two projects, L&T has been able to reuse some designs, creating efficiencies, according to industry sources.

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  • Contractor wins $208m Almoosa hospital MEP contract

    23 September 2026

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    Riyadh-based construction firm BEC Arabia has won a SR781m ($208m) contract for the mechanical, electrical and plumbing (MEP) works at Almoosa Hospital in Al-Khobar.

    Saudi Arabia’s Almoosa Health Company awarded the contract.

    The hospital complex consists of two towers: a 24-storey in-patient tower with 380 beds, and an 11-storey tower with 224 clinics and 113 additional treatment spaces.

    It will be built on a 45,000-square-metre site.

    A podium spanning the ninth and 10th floors will connect the two towers.

    The hospital will also include parking for 1,700 cars.

    BEC Arabia won the SR656m ($175m) main construction contract for the hospital in November last year.

    In August 2025, MEED reported that Almoosa Health Company had announced it had secured a sharia-compliant credit facility worth SR650m ($173m) from Banque Saudi Fransi.

    In a statement published on the Saudi stock exchange (Tadawul), the company said the seven-year facility would be used to support its expansion and growth strategy.

    Lebanon’s Dar, US-based Perkins&Will and French design firm Pierre-Yves Rochon designed the project.

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  • UAE to develop integrated waste-to-resource pilot

    23 September 2026

    Emirates Biotech and United Arab Emirates University (UAEU) have launched a pilot project in Al-Ain that could provide a model for larger waste-to-resource facilities.

    The project involves developing the UAE’s first integrated organic-waste valorisation pilot plant, which will test whether food waste and compostable packaging can be processed together to recover resources and reduce waste sent to landfill.

    Located near the UAEU campus, the 40kg-a-day facility will process organic waste to produce renewable biogas and nutrient-rich compost. The project is intended to generate technical and operating data that could support the development of larger-scale facilities.

    Emirates Biotech and UAEU will design, build and operate the pilot plant as part of a two-year research project running from August 2026 to August 2028. Installation and commissioning are expected to be completed by August 2027.

    The plant will combine anaerobic digestion and composting. Anaerobic digestion will convert the organic waste into renewable biogas, while the resulting digestate will be composted to produce nutrient-rich compost.

    A laboratory-scale assessment will also examine the potential to convert the biogas into renewable hydrogen.

    Food waste accounts for nearly 40% of daily municipal solid waste in the UAE, according to Emirates Biotech, and much of it is currently disposed of in landfills.

    The pilot will therefore assess the technical and operational feasibility of recovering value from two waste streams through a single integrated process.

    If successfully scaled, Emirates Biotech says an integrated organic-waste valorisation plant could reduce CO₂ emissions by 89% compared with landfilling.

    The project is expected to provide a scalable and modular model for converting food waste and compostable packaging into renewable biogas and compost, with the findings intended to inform the development of larger waste-to-resource facilities.

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  • Contractors prepare Oxagon Highway 55 bids

    23 September 2026

     

    Contractors are preparing to submit bids on 28 September for a design-and-build contract for permanent upgrade works on Highway 55 in the kingdom’s Oxagon region.

    The first phase of the project includes constructing 14 kilometres of road, with two lanes in each direction. It also includes one bridge and three interchanges.

    The project duration is 22 months.

    Highway 55 connects the Red Sea coast with the mainland in northwestern Saudi Arabia. It is currently the only road providing north-south connectivity between Duba and the Neom region.

    MEED reported exclusively in August 2025 that contractors had submitted responses to an expression of interest notice that Neom had issued earlier that month.

    The project is expected to support cargo movement from Duba Port to other parts of the kingdom and the wider region.

    Last year, Neom tested a pilot initiative by handling a shipment that travelled from Cairo via the Port of Safaga, across the Red Sea to the Port of Neom, and then inland to Erbil, Iraq.

    In a statement, Neom said: “The shipment travelled through an intermodal corridor spanning over 900 kilometres, marking a significant milestone in the kingdom’s transformation into a regional and global logistics hub.”

    The Port of Neom is located on the Red Sea near the Arar border, a key entry point into Iraq.

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