Related Articles

• 
  Chinese contractor wins Morocco solar plant deal

  10 August 2026

  China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Company (CCCC), has won a contract to build a solar photovoltaic (PV) power plant in Fez in northern Morocco.

  Known as GreenPower Morocco 4 (GPM4), the project is being developed by Moroccan company GPM Holding through its utility-scale solar subsidiary GPM Parks.

  The project covers engineering design, equipment procurement and installation, construction of an operation and maintenance building, grid connection and commissioning. It also includes upgrades to the associated substation.

  According to CHEC, the completed plant will supply electricity to the local grid, although it did not disclose the project’s capacity or contract value. 

  The project is being developed under Law 13-09, which provides Morocco’s framework for private renewable energy generation.

  According to its website, GPM Holding is also developing another solar PV project called GreenPower Morocco 2 (GPM2). This follows the completion of its first solar project, the 34MW project (GPM1) commissioned in Tangier in 2024. 

  GPM1 was developed by Green Power Morocco, a special purpose vehicle owned by GPM Holding and UAE-based Amea Power. The $30m project covers 75 hectares and includes 91,000 PV panels. It is expected to generate about 66,149MWh a year.

  The project has a 25-year power purchase agreement in place with Amendis, a subsidiary of Veolia Morocco. PowerChina was the main engineering, procurement and construction (EPC) contractor.

  Chinese contractors have previously been involved in other projects in Morocco’s renewable energy sector.

  Shandong Electric Power Construction Company (Sepco 3), a subsidiary of PowerChina, was part of the EPC consortium for the 200MW Noor 2 concentrated solar plants and 150MW Noor 3 concentrated solar power projects at the Noor Ouarzazate complex.

  New contract awards have been limited in Morocco in 2026, although six solar PV plants are now in the execution stage under phases one and two of the 305MW Noor Atlas solar PV programme.

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  Mark Dowdall
• 
  Shamal picks Dutco for Dubai Zoo site homes

  10 August 2026

  Dubai-based Shamal Holding has awarded local contractor Dutco Construction the main construction works contract for a low-rise residential project on the site of the former Dubai Zoo in Jumeirah 1.

  The project will comprise 90 low-rise homes and is designed as a residential leasing community that will remain under Shamal’s ownership, with all homes offered for premium leasing.

  The development will retain mature trees from the former zoo and is planned around shared courtyards, landscaped open spaces and a central park. Residents will have access to a clubhouse, wellness area, children’s play area, family pool, lounge and gym.

  The architect is DXB Lab. The local H&H is the development manager for the project.

  Dutco has previously worked with Shamal on infrastructure elements of the Dubai Harbour and Dubai Harbour Marinas developments.

  Shamal’s wider real estate portfolio includes the Naia Island, Dubai Harbour and Nad Al-Sheba Gardens developments. The company also holds hospitality and leisure assets, including partnerships with Jumeirah, Hilton and Baccarat, and operates attractions such as Skydive Dubai and Deep Dive Dubai.

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  Colin Foreman
• 
  WEBINAR: Mena Oil & Gas Projects Market 2026-27

  10 August 2026

  Webinar: Mena Oil & Gas Projects Market 2026-27 
  Thursday 27 August 2026 | 11:00 AM GST  |  Register now

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  Agenda:

  • Summary of the Mena oil, gas and petrochemicals projects market 
  • Overview of major megaprojects, including project programmes
  • Analysis of active contracts and spending to date
  • Review of top contracts by work already awarded
  • Long-term capital expenditure outlays and forecasts
  • Key contracts expected to be tendered and awarded over the next 18 months
  • Leading clients, contractors and market participants
  • Spending by segment: oil, gas and petrochemicals (upstream, downstream, onshore and offshore) 
  • Audience Q&A 

  Hosted by: Indrajit Sen, MEED’s oil & gas editor

  Click here to register

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  Indrajit Sen
• 
  Spanish firm renews Yanbu desalination O&M contract

  10 August 2026

  Spain’s Aqualia has announced it has renewed a contract to operate and maintain three floating desalination plants in Yanbu on Saudi Arabia’s Red Sea coast.

  The contract was awarded by the National Shipping Company of Saudi Arabia (Bahri) and will run until 14 September 2028, with an option to extend for a further two years.

  The three reverse osmosis (RO) plants are mounted on barges and have a combined production capacity of 150,000 cubic metres a day (cm/d). Each plant has a capacity of 50,000 cm/d.

  The three plants were originally deployed at Al-Shuqaiq and are designed to be relocated along Saudi Arabia’s coastline according to water demand. The barges are currently located at Yanbu.

  The $255m floating desalination project was commissioned for the Saudi Water Authority in 2022, with Bahri as the developer and UAE-based Metitio as the main contractor.

  Bahri is publicly listed on the Saudi Exchange but has significant government ownership, with the Public Investment Fund (PIF) holding 22.5% and Saudi Aramco Development Company owning 20% of the company.

  Aqualia is providing operation and maintenance services in Saudi Arabia through its joint venture Haji Abdullah Alireza Integrated Services Company (Haaisco), in which it holds a 51% stake.

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  Mark Dowdall
• 
  Kuwait shows tentative signs of economic development

  7 August 2026

  

   

  Kuwait was one of the chief targets of Iranian drone and missile strikes during July, but against the backdrop of regional instability, the Kuwaiti authorities also managed to conclude a series of significant deals during the month. That suggests that, if the US and Iran can come to some sort of agreement to end their conflict, there is the potential for the Kuwaiti economy to diversify and expand in a way that it has, until now, struggled to do.

  The sense of nascent progress was bolstered in early August, when a survey of local businesses found that the non-oil sector had returned to growth at the start of the third quarter, having been in a slump since the start of the war. However, the risk of renewed fighting means most observers remain deeply cautious about whether the latest purchasing managers index (PMI) is just a blip, or the start of a longer trend.

  Debt deals

  The first big deal came on 22 July, when the government sold $6bn-worth of bonds. It was the second debt issuance by the authorities since a long-awaited public debt law was passed by decree last year. The latest package included debt with tenors of three, five and 10 years. In a sign of the turbulent geopolitical environment, the bonds were priced at 70-85 basis points over US Treasuries. Notably higher than the 40-50 basis point spread the government achieved in its bond sale late last year.

  The second significant development came just a few days later, with Kuwait Oil Company (KOC) unveiling a $16bn deal with international investors Blackstone, Brookfield and KKR for its crude oil pipeline network. In a similar structure to deals struck in the past by Abu Dhabi National Oil Company (Adnoc) and Saudi Aramco, KOC will lease the country’s domestic and export pipelines to a new joint venture it has set up with the trio of international partners. The Kuwaiti energy company will then lease back the pipelines on an exclusive basis, in return for a volume-based tariff.

  KOC will have a 51% stake in the joint venture and – in line with Kuwaiti law – will retain full ownership and operational control of the 320-kilometre network.

  It was the largest energy infrastructure deal ever agreed in Kuwait and, according to KOC, the largest foreign direct investment made in the country. The $7.85bn that the three international partners will invest upfront will be used to support KOC parent company Kuwait Petroleum Corporation’s wider capital expenditure plans.

  The fact that the country was able to secure the deal at a time when its only existing export route – through the Strait of Hormuz – has been effectively closed off is an important vote of confidence by investors in the country’s longer-term prospects. According to energy consultancy Wood Mackenzie, Kuwait’s crude export volumes had fallen from 1.2 million barrels a day before the year to zero in April.

  It was the largest energy infrastructure deal ever agreed in Kuwait and, according to KOC, the largest foreign direct investment made in the country

  UK-based Oxford Economics noted that the bond issue and the pipeline deal came at a time when Kuwait “faces elevated fiscal funding needs and remains one of the GCC’s most exposed oil exporters to any disruption in the Strait of Hormuz given its limited alternative export infrastructure”.

  Blackstone said it also plans to open an office in Kuwait this year. There was a further show of investor interest in early August, when the Kuwait Investment Authority (KIA) reportedly agreed a $4.25bn, three-year loan from a group of 14 banks. The facility will be used for general corporate purposes, according to Bloomberg.

  In a further notable development, Kuwait’s Ministry of Public Works also handed a contract in late July to China State Construction Engineering Corporation (CSCEC) to build the country’s largest wastewater treatment plant. The North Kabd plant will have a capacity of up to 1 million cubic metres a day (cm/d). Kuwaiti water desalination plants have been hit on several occasions by Iranian drones during this year’s war, causing fires and other damage.

  Policy reforms

  On a smaller level, some notable reforms have been rolled out to try to shape the direction of the non-oil economy too. In late July, the Ministry of Commerce & Industry stopped issuing any more sole-trader or freelance business licences, while a review is carried out into the sector and official oversight is tightened.

  The authorities went a step further on 2 August, when a decree was issued to stop businesses offering goods and services without the right sort of licence. Anyone found to be working without the required permit could now face a prison term of up to three years and a fine of up to KD100,000 ($323,000) – or a sum equivalent to the profits generated by the unlicensed activity, whichever is greater.

  Some steps have been taken to ease restrictions in other areas. In early August, a change to the visa system was announced that will allow some foreign nationals to convert a visit visa into a regular residency permit in return for a fee of KD150. The measure proved immediately popular, but many applicants had failed to read the small print and, according to local media reports, several hundred were rejected. The scheme is primarily aimed at those seeking to bring their wives or children to Kuwait, as well as humanitarian cases and others with exceptional circumstances.

  Economic recovery

  The wider economy is showing tentative signs of improvement. The latest PMI survey delivered an unexpectedly strong result, showing that the non-oil private sector returned to growth in July for the first time since the war began.

  S&P Global Market Intelligence, which compiles the index, said the resumption of flights at Kuwait International airport had helped to support a rise in output and new orders – the first for five months. That in turn supported greater purchasing and hiring activity by local businesses and took the index up to 50.8 points – just above the 50-point threshold that separates growth from contraction.

  Even so, S&P warned that market conditions remain “challenging” while local bank NBK Capital warned in early August that “it remains to be seen how much of this improvement [in the PMI] will be sustained … following the reescalation in US-Iran tensions in the past weeks”.

  If the Kuwaiti economy is to make the most of its potential, the country needs the war between Iran and the US to come to a definitive end.

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  MEED’s September 2026 report on Kuwait also includes:

  > BANKING: Necessity is the mother of invention for Kuwaiti lenders
  > OIL & GAS: Regional war to have lasting impact on Kuwaiti oil sector
  > CONSTRUCTION: Kuwait construction holds up despite regional strife

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  Dominic Dudley