Amiral cogen eyes financial close
26 April 2024
The developer team for the cogeneration independent steam and power plant (ISPP) serving the Amiral petrochemicals complex in Jubail, Saudi Arabia is expected to reach financial close for the project before the end of the second quarter this year.
Saudi Aramco Total Refining & Petrochemical Company (Satorp) signed a power and steam purchase agreement with a team that comprises the UAE's Abu Dhabi National Energy Company (Taqa) and Japan's Jera in March.
A special purpose entity owned by Taqa (51%) and Jera (49%) will develop the Amiral cogeneration plant on a 25-year build-own-operate basis, extendable by five years on mutual agreement.
Taqa and Jera will also undertake the plant's operation and maintenance (O&M) through an O&M special purpose entity.
"The target is to reach financial close by the end of May or June," a source familiar with the project tells MEED.
The planned facility is anticipated to have a design capacity of about 475MW of power generation and roughly 452 tonnes an hour of steam from advanced combined-cycle gas-fired technology.
The firms said the plant is expected to be operational by 2027.
"The Amiral cogeneration plant will include state-of-the-art power and steam generation systems, gas and water receiving systems, and gas insulated switchgear interconnections while at the same time meeting stringent efficiency standards imposed by the Saudi Energy Efficiency Centre," the firms said on 28 March.
"The project also has provision for the future installation of a carbon dioxide capture plant and is capable of hydrogen cofiring."
South Korean contracting company Samsung C&T will undertake the engineering, procurement and construction (EPC) contract for the Amiral cogeneration ISPP project.
Steam cracker complex
Integrated with the existing Satorp refinery in Jubail, the new complex aims to house one of the largest mixed-load steam crackers in the Gulf that can produce up to 1,650 kt/y of ethylene and other industrial gases.
This expansion is expected to attract more than $4bn in additional investment in various industrial sectors, including carbon fibres, lubes, drilling fluids, detergents, food additives, automotive parts and tires. It is also expected to create about 7,000 local direct and indirect jobs.
Satorp reached the final investment decision on Amiral in December 2022.
Aramco owns 62.5% of shares in Satorp, while France's TotalEnergies has a 37.5% stake.
Exclusive from Meed
-
Chinese firm wins Dubai drainage contract20 July 2026
-
-
Abu Dhabi launches E20 highway expansion project20 July 2026
-
-
Aramco executive becomes Samref chairman17 July 2026
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
Chinese firm wins Dubai drainage contract20 July 2026
China State Construction Engineering Corporation (CSCEC) has announced it has won a contract to deliver a stormwater drainage pipeline package under Dubai Municipality’s Tasreef programme.
The contract is for the TF-15-C2 stormwater drainage network project located along Umm Suqeim Road in the Al-Barsha and Al-Quoz areas of Dubai.
MEED exclusively revealed in May that the contractor had been selected for the engineering, procurement and construction (EPC) contract. The project is estimated to cost $162m.
The scope of work includes the construction of about 20 kilometres of new stormwater pipelines, together with associated inspection and intake manholes. The project is located west of the Dubai Canal and will connect the Al-Quoz 3 and Al-Quoz 4 industrial areas with Al-Quoz 1.
It is being delivered as part of Dubai’s Tasreef strategic plan, which supports the Dubai 2040 Urban Master Plan. Once completed, the new drainage infrastructure is expected to improve the emirate’s stormwater network, increase flood protection and enhance the resilience of Dubai’s infrastructure.
In February, the municipality confirmed it had awarded contracts for five new projects under phase two of the programme to expand and strengthen Dubai’s stormwater drainage network.
These include a separate contract awarded to CSCEC for the TF-11-C1 stormwater drainage project in the Dubailand area.
Also in February, Dubai Municipality invited consultants to qualify for a contract to supervise construction on the TF-15-C2 stormwater drainage projects along with two other projects (TF-13-C1 and TF-16-C1) under the Tasreef programme.
According to a source, a consultant has yet to be appointed.
TF-16-C1 involves upgrading and rehabilitating the stormwater system east of the Dubai Canal, while TF-13-C1 involves building a water pipeline stormwater drainage system at Al-Marmoum, Al-Qudra and Al-Yalayis 2 & 3.
Bids are currently under evaluation for the EPC contracts for both projects.
https://image.digitalinsightresearch.in/uploads/NewsArticle/17705058/main.jpg -
Dubai receives eight bids for Hassyan SWRO pipeline contract20 July 2026
Register for MEED’s 14-day trial access
Eight contractors have made offers for a contract to supply, install, test and commission glass-reinforced epoxy (GRE) water transmission pipelines and associated works for the Hassyan seawater reverse osmosis (SWRO) phase two network in Dubai.
The contract relates to project one of the Hassyan pipeline network expansion being undertaken by state utility Dubai Electricity & Water Authority (Dewa).
Local firm Binladin Contracting Group submitted the lowest offer of AED335.92m ($91.5m), according to results published by the utility.
The other bids were:
- Green Oasis General Contracting (UAE) – AED345.00m ($93.9m)
- Al-Nasr Contracting (UAE) – AED391.54m ($106.6m)
- Wade Adams Contracting (UAE) – AED393.80m ($107.2m)
- RMB Contracting (UAE) – AED437.96m ($119.3m)
- Tristar Engineering & Construction (UAE) – AED441.55m ($120.2m)
- Shapoorji Pallonji Mideast (UAE/India) – AED451.47m ($122.9m)
- Gulf Petrochemical Services Trading (UAE) – AED495.20m ($134.8m)
RMB also submitted a conditional discounted offer of AED427.02m ($116.3m). Three companies submitted regret notices, while one offer was rejected after no valid commercial offer was received.
In January, Dewa announced that construction of the 180-million-imperial-gallon-a-day phase one of the Hassyan SWRO independent water project was 90% complete.
Dewa has two other contracts out for tender for GRE water transmission pipeline work related to the Hassyan SWRO phase two network.
Project two was tendered on 22 January and has a bid submission deadline of 21 July. Project three was tendered on 26 January and has a bid submission deadline of 29 July.
https://image.digitalinsightresearch.in/uploads/NewsArticle/17704940/main.jpg -
Abu Dhabi launches E20 highway expansion project20 July 2026
Abu Dhabi’s Department of Municipalities and Transport (DMT) has announced the E20 highway expansion project.
The scheme covers widening the main carriageway from three to five lanes, constructing more than 10 kilometres (km) of new ramps and loops, and building four bridges.
Works also include 1.5km of internal roads and the addition of eight signalised junctions across Khalifa City and the Zayed International airport precinct.
The project includes utility works, comprising 62km of stormwater drainage, 37km of irrigation networks and the installation of 485 streetlights.
The E20 expansion is one of the major infrastructure schemes being overseen by DMT in Abu Dhabi.
Separately, DMT is evaluating bids for a design-and-build contract to construct two bridges serving Hudayriyat Island in Abu Dhabi.
The scope includes a two-lane bridge connecting 32nd Street to Shakhbout Bin Sultan Street, and a single-lane bridge on 8th Street. It also includes upgrades to signalised intersections.
Shakhbout Bin Sultan Street is a two-way road with three lanes in each direction, providing access to and from Hudayriyat Island.
https://image.digitalinsightresearch.in/uploads/NewsArticle/17704696/main.jpg -
Firms given more time for Mid Island Parkway prequalifications20 July 2026

Abu Dhabi’s Modon Infrastructure has extended the deadline to 31 July for firms to submit expressions of interest and prequalification statements for the next phase of Abu Dhabi’s Mid Island Parkway Project (MIPP), which will be developed as a public-private partnership (PPP).
The previous deadline was 15 July. MEED understands the prequalification notice was issued in June, following Modon Infrastructure’s invitation in May for firms to register their interest.
Modon Infrastructure will act as the lead developer and will hold a majority equity stake in the project company. It will award contracts for engineering, procurement and construction; operations and maintenance; and project advisory services.
Phase two of the MIPP involves the construction of about 11 kilometres (km) of highways, comprising a mix of three-, four- and five-lane sections. The highways will connect the Um-Yifeenah, Al-Jubail, Al-Sammaliyyah and Sas Al-Nakhl islands to Khalifa City and the E10 road.
The scope also includes the construction of three interchanges – E20, E10 and Dumbbell – on Al-Sammaliyyah Island.
The project includes several major structures, including the E20 interchange, which will feature cast-in-place box-girder and void-slab bridges, and the E10 interchange, which will feature cast-in-place box-girder bridges. It also includes I-girder bridges between Raha Beach West and Sas Al-Nakhl Island, as well as a causeway at Sas Al-Nakhl Island.
Further elements include a cast-in-place balanced cantilever bridge between Sas Al-Nakhl Island and Al-Sammaliyyah Island; a tunnel between Al-Sammaliyyah Island and Bilrimaid Island; and a cut-and-cover (open) tunnel on Bilrimaid Island. Another tunnel will connect Bilrimaid Island to Um-Yifeenah Island.
Abu Dhabi awarded three packages for phase one of the MIPP in 2024. The contract for Package 1A was awarded to a joint venture of Turkish contractor Dogus Construction and UAE firm Gulf Contractors. Package 1B was awarded to a joint venture of Yas Projects (Alpha Dhabi Holding) and China Railway International Group. Beijing-headquartered China Harbour Engineering Company and the UAE’s Agility Engineering & Contracting Company won the contract for Package 1C.
Phase one starts at the existing Saadiyat Interchange, connecting the E12 to the MIPP, and ends at the recently constructed Um-Yifeenah Highway.
It comprises a dual main road with a total length of 8km, including four traffic lanes in each direction, two interchanges, a tunnel and associated infrastructure works.
https://image.digitalinsightresearch.in/uploads/NewsArticle/17704765/main.jpg -
Aramco executive becomes Samref chairman17 July 2026
Saudi Aramco Mobil Refinery Company (Samref) has announced the appointment of Abdullah Bin Saleh Al-Suwailem as the chairman of its board of directors.
Al-Suwailem serves as senior vice president of Western Region manufacturing at Saudi Aramco.
Prior to being appointed chairman, Al-Suwailem had been a member of the Samref board since .
Samref is the downstream joint venture of Aramco and US oil and gas producer ExxonMobil. The entity owns a crude refining facility located in Yanbu on Saudi Arabia’s west coast, which entered operations in November 1984.
The Samref refinery has a capacity of 400,000 barrels a day (b/d) and mainly produces propane and several grades of automotive diesel oil, two grades of marine heavy fuel oil and sulphur.
In a , Samref said that Al-Suwailem “brings more than 30 years of leadership across the refining and petrochemicals sectors, having led some of the kingdom's most significant industrial joint ventures”.
“We expect his deep expertise in governance and large-scale operations to be invaluable as Samref continues its journey of growth and operational excellence. We look forward to his leadership in steering the board's strategic direction,” Samref added.
Aramco and ExxonMobil signed a memorandum of understanding (MoU) in May 2025 to evaluate a significant upgrade of the Samref complex and expand the oil refining facility into a world-class integrated petrochemicals complex.
The MoU between Aramco and ExxonMobil to upgrade the Yanbu refinery and convert the facility into an integrated refining and petrochemicals complex was signed at the Saudi-US Investment Forum held in Riyadh on 13-14 May 2025, during US President Donald Trump’s state visit to Saudi Arabia.
MEED understands that the Samref petrochemicals expansion project is one of the schemes that comprise Aramco’s $100bn liquids-to-chemicals programme.
Aramco has divided its liquids-to-chemicals programme into four main projects and has taken steps forward this year by signing joint-venture investment agreements with foreign partners for these schemes:
- Conversion of the Saudi Aramco Jubail Refinery Company (Sasref) complex in Jubail into an integrated refinery and petrochemicals complex through the addition of a mixed-feed cracker. The project also involves building an ethane cracker that will draw feedstock from the Sasref refinery. Front-end engineering and design (feed) on the project is under way and is being performed by Samsung E&A, although progress has been slow.
- Conversion of the Yanbu Aramco Sinopec Refining Company (Yasref) complex in Yanbu into an integrated refinery and petrochemicals complex through the addition of a mixed-feed cracker. China’s Sinopec is a joint-venture partner in the project.
- Conversion of the Saudi Aramco Mobil Refinery Company (Samref) complex in Yanbu into an integrated refinery and petrochemicals complex through the addition of a mixed-feed cracker. US oil and gas producer ExxonMobil, Aramco and Samref signed a venture framework agreement in December to begin preliminary feed work on the project.
- Building a crude oil-to-chemicals complex in Ras Al-Khair in the Eastern Province. Progress on this project remains slow.
The central aim of the strategic programme is to derive greater economic value from every barrel of crude produced in Saudi Arabia by converting 4 million b/d of Aramco’s oil production into high-value petrochemicals and chemicals feedstocks by 2030.
Aramco and its subsidiary Saudi Basic Industries Corporation (Sabic) were tasked with establishing 10-11 large mixed-feed crackers by 2030. These petrochemicals crackers, which included greenfield developments and expansions of existing facilities, were to be built both in Saudi Arabia and in overseas markets.
READ THE JULY 2026 MEED BUSINESS REVIEW – click here to view PDFStress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.
Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
> AIRPORTS: Dubai and Riyadh reaffirm airport ambitions> INDUSTRY REPORT: Dubai eyes tourism sector recovery> DATA CENTRES: Big Tech falls short on data centre promise> LEADERSHIP: Aramco’s citizen developers accelerate digital changeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17697004/main.gif