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  Jordan plans 500MW gas-fired power plant

  30 April 2025

  Jordan plans to procure a gas-fired power station that will likely have a design capacity of around 500MW.

  According to industry sources, the kingdom is seeking advisers for the project, which is likely to be developed using an independent power project (IPP) model.

  MEED understands that the client is the state-backed utility, National Electric Power Company (Nepco).

  One of the sources said, "There have been talks for some time now," but he is unsure if the government has taken a firm decision to start the procurement process for the new plant.

  However, another source said the advisers being sought will likely start preparing the project's request for proposals.

  Jordan has a total electricity generation installed capacity of about 7.1GW as of 2023, according to data published by the International Renewable Energy Agency (Irena).

  Solar and wind power plants account for over 30% of the total installed capacity, which is one of the highest, if not the highest, renewable energy installed capacity in the Middle East and North Africa region, compared to overall generation capacity.

  Work has been underway to enable the successful integration of renewable power to its electricity grid. 

  In February, the European Bank for Reconstruction & Development (EBRD) and the EU approved a €67.1m ($70.2m) financing package for Nepco.

  The financing package consists of a sovereign-guaranteed EBRD loan of up to $56.5m and an EU investment grant of up to €12.4m ($13m).

  These funds will finance the construction of a high-voltage electricity substation in northern Jordan, to improve the grid’s capacity and enable it to handle existing and new generation in the north of the country, said EBRD.

  According to MEED Projects data, there are roughly $ 3.3 bn worth of power projects that are under way and planned in Jordan, with generation plants accounting for 59% of the total.

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  Jennifer Aguinaldo
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  Sobha and UAQ Properties launch downtown project

  30 April 2025

  Dubai-based private real estate developer Sobha Realty has announced the start of its latest real estate project in the UAE emirate of Umm Al-Quwain.

  Sobha has signed a partnership agreement with Umm Al-Quwain Properties to develop the project jointly.

  The project, named Downtown Umm Al-Quwain, will span an area of about 25 million square feet (sq ft).

  According to an official statement, the masterplan includes an 11-kilometre coastline featuring 7km of natural beaches and parks.

  The mixed-use development will be divided into three zones: North Beach, Trade Centre and South Beach.

  These developments will offer residential units, commercial centres, office spaces, hotels and other associated facilities.

  The statement added that the project’s main feature is the Trade Centre, a 15 million sq ft free zone operating under an independent legal framework.

  The project is Sobha’s second major development in Umm Al-Quwain. In July last year, MEED reported that Sobha Realty and UAQ Properties had launched a mixed-use real estate project on Al-Siniya Island in Umm Al-Quwain.

  The Al-Siniya Island project will include a waterfront community, a golf course, a pavilion, event spaces and other facilities.

  GlobalData expects the UAE’s construction industry to expand by 4.2% in real terms in 2025 and register an average annual growth of 4% from 2026 to 2029, supported by investments in transport, oil and gas, energy and housing infrastructure projects.

  The residential construction sector is estimated to expand by 3.4% in real terms in 2025 and record a growth of 3.1% between 2026 and 2029, supported by public and private sector investments in the housing sector, amid an increase in real estate transactions owing to an improvement in demand.

  

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  MEED’s May 2025 report on the UAE includes:

  > COMMENT: UAE is poised to weather the storm
  > GOVERNMENT & ECONOMY: UAE looks to economic longevity
  > BANKING: UAE banks dig in for new era
  > UPSTREAM: Adnoc in cruise control with oil and gas targets
  > DOWNSTREAM: Abu Dhabi chemicals sector sees relentless growth
  > POWER: AI accelerates UAE power generation projects sector
  > CONSTRUCTION: Dubai construction continues to lead region
  > TRANSPORT: UAE accelerates its $60bn transport push
  > DATABANK: UAE growth prospects head north

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  Yasir Iqbal
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  Kuwait retenders Doha desalination package

  30 April 2025

  Kuwait’s Electricity, Water and Renewable Energy Ministry (MEWRE) has retendered a contract to design and build the planned second phase of a seawater reverse osmosis (SWRO) plant in Doha.

  The Doha SWRO phase two project was expected to have a capacity of 60 million imperial gallons a day (MIGD) when it was first tendered.

  The tender closing date for the retendered contract is 27 May.

  The scope of work entails the supply, installation, operation and maintenance of phase 2 of the Doha SWRO plant, inclusive of alkalinisation equipment for produced water.

  The ministry cancelled the tender for the contract in June last year. 

  Contractors submitted bids for the contract in September 2022. At the time, the MEW did not disclose the engineering, procurement and contracting firms that were invited to bid for the contract.

  The MEW awarded South Korea’s Doosan Heavy Industries & Construction, now known as Doosan Enerbility, the $422m contract to build the 60MIGD Doha 1 SWRO in May 2016.

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  Jennifer Aguinaldo
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  Kuwait tenders 900MW Subiya plant contract

  30 April 2025

  Kuwait’s Electricity, Water & Renewable Energy Ministry (MEWRE) has reissued the tender for a contract to build a combined-cycle gas turbine (CCGT) plant in Subiya.

  The fourth phase of the Subiya power and water complex is expected to have a capacity of 900MW.

  The ministry issued the tender on 27 April and expects to receive bids by 27 May.

  The ministry announced earlier this month that the Kuwait Central Authority for Public Tenders has approved issuing the tender for the 36-month contract.

  MEWRE first tendered the contract to design and build the 900MW Subiya phase 4 CCGT in 2022.

  According to MEED Projects data, the bidders and their offers were:

  • Al-Ghanim International General Trading & Contracting (local): $837.3m
  • Al-Zain United General Trading & Contracting (local): $866.17m

  MEED understands that Al-Ghanim International emerged as the preferred bidder after agreeing to a revised contract value of $662m.

  The planned project, along with a scheme to convert an existing 250MW simple-cycle plant into a CCGT plant, aims to boost the generation capacity at the Subiya power complex by 1,150MW.

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  Jennifer Aguinaldo
• 
  Read the May 2025 MEED Business Review

  30 April 2025

  Download / Subscribe / 14-day trial access

  Global stock markets suffered some of their worst days on record following US President Donald Trump's announcement of his 'Liberation Day' tariffs on 2 April. Although a 90-day pause was quickly announced for most trading partners, the 10% baseline import duty and levies on aluminium and industrial metals led to selloffs across regional indices. Oil prices also took a hit, as Brent crude dropped to under $60 a barrel for the first time since 2021.

  The GCC is well positioned to survive the trade wars, however. Oil, energy and various petrochemicals products remain exempt from US tariffs, and with low regulatory barriers and the capacity to engage in manufacturing-intensive activities, the region's economies pride themselves on being trade-friendly. By building on the strong relations that regional leaders enjoy with the Trump administration, GCC states can hope to emerge from the assault relatively unscathed.

  In the May edition of MEED Business Review, we take an in-depth look at how regional governments hope to avoid the worst of the hits from US tariffs, examine the impact of the tariff regime on Gulf stock markets and assess the additional damage that falling prices will cause for oil exporters across the Middle East and North Africa region.

  MEED's latest issue also includes a 17-page market report on the UAE, which explores how solid fiscal and macroeconomic fundamentals will help the country ride out the global uncertainty caused by the imposition of US tariffs. UAE financial institutions remain on a strong growth heading, and an expected increase in oil production, continued chemicals sector growth, expansionary government spending on infrastructure and renewed investment in real estate will all help the UAE to weather the storm.

  In addition, this month's issue features MEED's 2025 GCC Contractor Ranking, which reveals an increase in orders across the region in the past year. While the GCC’s most active contractor is Saudi Arabia’s Nesma & Partners, with $13.9bn of work at the execution stage, Beijing-based China State Construction Engineering Corporation has continued to grow strongly to secure second place this year, just $300m behind Nesma with $13.5bn.

  This issue is also packed with analysis. We examine the steps that are being taken by Damascus to reassure regional partners and lay the groundwork for the reconstruction of war-torn Syria; look at what Saudi Arabia and Oman are doing to attract local and international miners; and learn how UAE sovereign wealth fund Mubadala is investing in a low-carbon future.

  In the May issue, the team also speaks exclusively to Walter Simpson, the former managing director of CC Energy Development (CCED), about the oil producer’s plans for growth in Oman; and Iain McBride, head of commercial for gigaproject multi-asset developer Roshn Group, who lays out the procurement strategy that is enabling the company to navigate the challenges presented by Saudi Arabia’s construction boom.

  We hope our valued subscribers enjoy the May 2025 issue of MEED Business Review. 

  

   

  Must-read sections in the May 2025 issue of MEED Business Review include:

  > AGENDA: 
  > GCC shelters from the trade wars
  > Gulf markets slide as US tariff shockwaves hit
  > Lower oil prices raise Gulf’s fiscal pressure

  > CURRENT AFFAIRS:
  > Syria makes progress towards reunification

  INDUSTRY REPORT: 2025 GCC contractor ranking  > Contractors take on more work in 2025

  > MINERALS: Saudi Arabia and Oman open up their minerals potential

  > INTERVIEWS:
  > CCED seeks growth in Oman’s hydrocarbons sector
  > A case study in procurement 

  > LEADERSHIP: Rethinking investments for a lower-carbon future

  > UAE MARKET REPORT: 
  > COMMENT: UAE is poised to weather the storm
  > GOVERNMENT & ECONOMY: UAE looks to economic longevity
  > BANKING: UAE banks dig in for new era
  > UPSTREAM: Adnoc in cruise control with oil and gas targets
  > DOWNSTREAM: Abu Dhabi chemicals sector sees relentless growth
  > POWER: AI accelerates UAE power generation projects sector
  > CONSTRUCTION: Dubai construction continues to lead region
  > TRANSPORT: UAE accelerates its $60bn transport push
  > DATABANK: UAE growth prospects head north

  > MEED COMMENTS: 
  > Opec+ shows defiance in the face of sliding oil prices
  > Corruption may hinder Iraqi oil pipeline reopening
  > Mall of the Emirates sets trends again with $1.4bn revamp
  > Abu Dhabi infrastructure entity will help forge partnerships

  > GULF PROJECTS INDEX: Gulf projects index inches upwards

  > MARCH 2025 CONTRACTS: Region records $70.3bn of deal signings in first quarter of 2025

  > ECONOMIC DATA: Data drives regional projects

  > OPINION: Trump’s new world order

  > 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