GE wins Neom substation deal
12 June 2023
India's Larsen & Toubro, the engineering, procurement and construction (EPC) contractor for the utility infrastructure of the $8.4bn Neom green hydrogen project in Saudi Arabia, has awarded GE Grid Solutions a contract to supply 380-kilovolt (kV) T155 gas-insulated substations (GIS) for the scheme.
Located in Oxagon at Neom in northwestern Saudi Arabia, the project aims to produce 600 tonnes a day of carbon-free hydrogen using solely wind and solar power by the end of 2026.
GE’s GIS and the 1.5 breaker configuration will "help ensure uninterrupted operation at the hydrogen plant and the wind and photovoltaic plants, which will produce captive energy for the plant".
GE’s switchgear will also support the primary grid by increasing power supply reliability, the firm said
The company will be responsible for designing, manufacturing, supplying and supervising the installation and commissioning of the 92 bays of GIS for the plant.
The equipment is being manufactured at Grid Solutions’ site in Aix-Les-Bains, France.
Grid Solutions is part of the US-based firm's Vernova businesses portfolio.
Larsen & Toubro won the EPC contract to build a 2,200MW solar photovoltaic plant, a 1,650MW wind generation balance of plant, and a 400 megawatt-hour (MWh) battery energy storage system to support the Neom green hydrogen project.
It will also build three 380 kV substations, 306 kilometres of 380kV overhead lines, and underground cables required for the kingdom’s electrical grid.
Saudi utility developer Acwa Power, the US' Air Products and Neom equally own Neom Green Hydrogen Company (NGHC), the special project vehicle for the $8.4bn green hydrogen-based ammonia production plant in Oxagon.
The project reached financial close in May, with 23 banks and investment companies backing the deal.
In addition to being the exclusive offtaker of the ammonia produced at the plant, Air Products is the nominated contractor and system integrator for the entire facility, with a contract valued at $6.7bn.
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Arada awards $16m retail complex construction deal
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Miral moves Harry Potter theme park bid deadline
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29 July 2025
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Arada awards $16m retail complex construction deal
30 July 2025
Sharjah-based real estate developer Arada has awarded a AED60m ($16m) contract to build the Masaar Central project in the Suyouh district of Sharjah.
The contract was given to the local firm Intermass Engineering & Contracting.
Masaar Central will serve as the retail hub at the centre of the Masaar project.
Construction is expected to begin soon, with completion slated for 2026.
Masaar Central will offer retail, dining, wellness and education facilities over an area of 53,000 square feet.
In June last year, Arada awarded a AED830m ($226m) contract to Intermass Engineering & Contracting to build 597 units in the Saro cluster of the Masaar project.
Intermass has previously completed the Sendian cluster, the first residential phase of Masaar, and is currently working on Robinia, Masaar’s third phase.
Valued at AED8bn, the Masaar scheme includes 4,000 villas and townhouses across eight gated districts, featuring a nature-inspired masterplan with more than 50,000 trees.
Arada’s new project launches reflect increased activity in the UAE real estate market, where projects worth over $323bn are in execution or planning stages.
This aligns with a forecast from UK data analytics firm GlobalData, predicting that the UAE construction sector will grow by 4.2% in real terms in 2025, driven by infrastructure, energy, utilities and residential construction projects.
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Contract award nears for King Salman airport runway
30 July 2025
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> Middle East invests in giant airports
> Broader region upgrades its airports
> Global air travel shifts east
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King Salman International Airport Development Company (KSIADC) has received best and final offers (bafos) for a design-and-build contract to develop the third runway at King Salman International airport (KSIA) in Riyadh.
"Bafos were submitted earlier this month [in July] and the contract is expected to be finalised soon," a source close to the project told MEED.
It is understood that the third and fourth runways will add to the two existing runways at Riyadh’s King Khalid International airport, which will eventually become part of KSIA.
In February, MEED exclusively reported that firms had submitted prequalification documents on 18 January for a contract to develop the third runway and taxiways at KSIA.
KSIADC, which is backed by Saudi sovereign wealth vehicle the Public Investment Fund, received interest from firms in December last year for the package.
KSIADC previously prequalified firms for the main engineering, procurement and construction packages and early and enabling works, as well as other elements of the construction work. These included specialist systems and integration; materials and equipment; engineering and design; professional services; health, safety, security, environment and wellbeing services; modular installation and prefabrication; local content; and environmental, social and governance (ESG) and other services.
The entire scheme is divided into eight assets:
- Iconic Terminal
- Terminal 6
- Private aviation terminal
- Central runway and temporary apron
- Hangars
- Landside transport
- Cargo buildings
- Real estate
In August last year, KSIADC appointed several architectural and design firms for the various elements of the project.
KSIADC confirmed that it had signed up UK-based Foster + Partners to design the airport’s masterplan, including the terminals, six runways and a multi-asset real estate area.
US-based engineering firm Jacobs will provide specialist consultancy services for the masterplan and the design of the new runways.
The client also confirmed the appointment of UK-based engineering firm Mace for the delivery partner role on the project.
The airspace design consultancy contract was awarded to local firm Nera.
Mega airport project
The project covers an area of about 57 square kilometres (sq km), allowing for six parallel runways. It will include the existing terminals at King Khalid International airport, as well as 12 sq km of airport support facilities, residential and recreational facilities, retail outlets and other logistics real estate.
If the project is completed on time in 2030, it will become the world’s largest operating airport in terms of passenger capacity, according to UK analytics firm GlobalData.
The airport aims to accommodate up to 120 million passengers by 2030 and 185 million by 2050. The goal for cargo is to process 3.5 million tonnes a year by 2050.
Saudi Arabia plans to invest $100bn in its aviation sector. Riyadh’s Saudi Aviation Strategy, announced by the General Authority of Civil Aviation, aims to triple Saudi Arabia’s annual passenger traffic to 330 million travellers by 2030.
It also aims to increase air cargo traffic to 4.5 million tonnes and raise the country’s total air connections to more than 250 destinations.
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Miral moves Harry Potter theme park bid deadline
29 July 2025
Abu Dhabi’s Miral has extended the bid submission deadline for a tender to build a Harry Potter-themed expansion at the Warner Bros World Yas Island entertainment destination in Abu Dhabi.
Earlier this month, MEED exclusively reported that the tender for the estimated AED2bn-AED3bn ($545m-$816m) main construction works had been issued to contractors, with bids initially due on 28 July.
Miral has extended the bid submission deadline until 4 August, according to sources.
The scope of the Warner Bros World phase two expansion includes adding 40,000 square metres (sq m) to the existing theme park. This will include a Harry Potter-themed zone with three new rides, retail outlets, and food and beverage facilities.
Enabling works for the project have begun and are being undertaken by local firm NSCC International. Another local firm, Emirates Electrical & Instrumentation Company, is carrying out the early works.
Canadian engineering firm EllisDon is the project consultant, and French firm Egis is the lead designer.
According to media reports, the Abu Dhabi project will be the world’s sixth Harry Potter-themed park. The others are in Florida and California in the US, Beijing in China, Osaka in Japan and Leavesden in the UK.
The Abu Dhabi project was first announced in November 2022.
Yas Waterworld
Miral has developed a series of theme parks and other entertainment-related attractions on Yas Island, working with several local and international contractors.
On 1 July, Miral opened a new 16,900 sq m expansion of its Yas Waterworld park to the public.
The expansion added 3.3 kilometres of slide sections to the park. The addition of 18 new rides and attractions, bringing the total number of rides to more than 60, is expected to increase visitor capacity by 20%.
Construction was carried out by local contractor Alec.
Disney park
In May, The Walt Disney Company and Miral signed an agreement to build a Disney theme park resort on Yas Island.
Disney, which is based in the US, said the Abu Dhabi site will be its seventh theme park resort. The others are in California and Florida in the US, Paris in France, Hong Kong and Shanghai in China, and Tokyo in Japan.
In a statement, Disney noted that the UAE is located within a four-hour flight of one-third of the world’s population, making it a significant gateway for tourism. It is also home to one of the world's busiest airline hubs, with 120 million passengers travelling through Abu Dhabi and Dubai each year.
The Disney theme park resort in Abu Dhabi will include entertainment areas, themed accommodations, dining venues and retail experiences.
In 2023, Miral opened SeaWorld Abu Dhabi, also on Yas Island. Alec was the contractor for the estimated $565m project.
In 2018, Miral opened the Warner Bros theme park on Yas Island. Belgium’s Besix was the contractor for the estimated $531m project.
Other Miral projects have included the Etihad Arena and the indoor climbing and skydive centre Clymb. Bam International of the Netherlands was the contractor for the arena and Germany’s Zublin was the contractor for Clymb.
Yas Island was launched as a project in 2006 by local developer Aldar Properties. The original centrepiece attractions were the Yas Marina Circuit, which hosts Formula 1 motor racing’s annual Abu Dhabi Grand Prix, and the Ferrari World theme park.
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Aviation competition grows
29 July 2025
Commentary
Colin Foreman
EditorRead the August issue of MEED Business Review
On 17 April, Istanbul airport became the first airport outside of the US to commence triple runway operations, which means the airport now supports simultaneous take-offs and landings on three runways.
Hourly air traffic capacity has increased from 120 to 148 movements an hour, enhancing Istanbul airport’s competitiveness as a global aviation hub.
Along with the rapidly expanding Turkish Airlines, the airport – which aims to ultimately have a capacity of 200 million passengers a year – has established itself as a key player in the global aviation market. This puts it in competition with the airports and airlines of the Gulf, which vie for much of the same transit business.
As the competition grows, Dubai is expanding its own airport capacity. In May 2024, it relaunched the $33bn Al-Maktoum International airport expansion, which eventually aims to cater to 260 million passengers a year.
The plan is for the airport to replace the existing Dubai International airport, giving Dubai much greater capacity. Dubai Aviation Engineering Projects, which is overseeing the construction of the airport, says arrivals capacity will be quadrupled to 160 movements an hour and departure capacity increased over fivefold to 200 movements an hour.
Saudi Arabia has emerged as an ambitious and well-funded challenger
Dubai also faces competition from within the region. It already competes with transit hubs in Doha, Abu Dhabi, Bahrain and Muscat, and now Saudi Arabia has emerged as an ambitious and well-funded challenger for the future. In Riyadh, the plan is to expand the existing King Khalid International airport to become King Salman International airport, which aims to accommodate up to 120 million passengers by 2030 and 185 million by 2050.
Both the Al-Maktoum and King Salman airport projects are now moving into construction, with a series of key appointments across both projects this year. As competition in global aviation grows, the pressure to deliver these projects will build.
READ THE AUGUST 2025 MEED BUSINESS REVIEW – click here to view PDF
Gulf heads into a new era of aviation; Maghreb’s resilience rises despite global pressures; GCC banks expand issuance amid demand
Distributed to senior decision-makers in the region and around the world, the August 2025 edition of MEED Business Review includes:
> AGENDA 1: Middle East invests in giant airports> AGENDA 2: Broader region upgrades its airports> AGENDA 3: Global air travel shifts east> CURRENT AFFAIRS: Syria wrestles fragile security situation> GCC BANKS: Gulf banks navigate turbulent times> CONSTRUCTION: Soudah Peaks outlines project construction plans> INTERVIEW: SETS leads Saudi heritage preservation charge> LEADERSHIP: From plastic leakage to leadership in the Gulf> MAGHREB MARKET FOCUS: Maghreb pushes for stabilityTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/14358206/main.gif -
Iraq to tender Europe road packages by the end of 2025
29 July 2025
Iraq has announced that it expects to float the first tenders by the end of this year for the Development Road project, which will link Iraq to Europe via Turkiye.
Local media reports quoted Maytham Safi, information director at Iraq’s Transport Ministry, as saying: “The project comprises 15 industrial and economic zones and will be offered in several packages to the market.”
Safi added that the initial designs for the project have been completed, and that it is now in the detailed design phase.
In March, MEED reported that design work on the rail component of the project is expected to be completed by August.
Iraq signed an agreement with Italy’s BTP Infrastrutture in November 2024 for the preparation of the technical and economic feasibility study and design of the first phase of the rail element of the project, which also includes a parallel motorway.
In January, Iraqi officials met a delegation from the World Bank to discuss the scope of financing arrangements for the multibillion-dollar Development Road project.
The officials discussed the bank’s support for rehabilitating the existing railway linking southern Iraq to the north, and onwards to Turkiye, as part of the Development Road project.
The project includes a 1,200-kilometre railway and a highway linking Iraq’s Faw port to Europe via Turkiye. It is expected to cost about $17bn.
In August last year, Turkiye announced that it would hold a meeting with officials from Iraq, Qatar and the UAE to discuss the project. This followed the signing of a memorandum of understanding in April to establish a framework for its implementation.
In May, it was announced that Iraq’s Transport Ministry had appointed US-based management consulting firm Oliver Wyman to provide consultancy services for the project.
Development road project
The Development Road project forms part of Iraq’s efforts to improve its geopolitical status as a new trade corridor and generate fresh sources of financial income, reducing the country’s reliance on hydrocarbons.
It involves the development of a 1,200km road and a dual rail line for passenger and cargo trains.
According to the plan, the road project will begin at Faw port, pass through 10 governorates and end at Faysh Khabur on the border of Iraq and Turkiye, before connecting to Turkish railway and highway networks.
By 2028, the freight network’s transport capacity is expected to reach 3.5 million containers and 22 million tonnes of bulk cargo annually, according to an official statement by Younis Khaled, director general of the General Company for Iraqi Railways.
This is expected to increase to 7.5 million containers and 33 million tonnes of cargo by 2038, and to about 40 million tonnes of cargo by 2050.
The initial capacity of the high-speed train is expected to be 13.8 million passengers a year.
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Distributed to senior decision-makers in the region and around the world, the August 2025 edition of MEED Business Review includes:
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