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  Consortium wins $500m Saudi wastewater treatment project

  9 September 2025

  A consortium of Saudi utilities provider Marafiq, the regional business of France’s Veolia and Bahrain/Saudi Arabia-based Lamar Holding has won a $500m (SR1.875bn) contract to develop an industrial wastewater treatment plant (IWWTP) in Jubail Industrial City 2, located in Saudi Arabia’s Eastern Province.

  Saudi Aramco Total Refining & Petrochemical Company (Satorp), a joint venture of Saudi Aramco and France’s TotalEnergies, has awarded the 30-year concession agreement to the consortium for developing the IWWTP. The planned facility will treat and recycle wastewater from Satorp’s under-construction Amiral chemical derivatives complex, also in Jubail.

  Marafiq, formally Power & Water Utility Company for Jubail and Yanbu, will own a 40% stake in the dedicated project company. Veolia Middle East SAS will hold a 35% stake, and Lamar Holding’s Lamar Arabia for Energy will hold the other 25%.

  The planned IWWTP, which will primarily serve the $11bn sprawling Amiral chemicals zone, will implement advanced water treatment and recovery technologies to process complex industrial effluents, including spent caustic streams. Treated water will be reintegrated into the industrial processes, supporting closed-loop reuse and energy efficiency.

  The project follows a concession-style model, akin to a public-private partnership (PPP), where the developer consortium invests in, builds and operates the wastewater plant over a 30-year period, with returns linked to service delivery.

  Marafiq has been involved in several similar projects across Saudi Arabia, including as the sole owner of the Jubail industrial water treatment plant (IWTP8), which treats complex industrial effluents for petrochemical and heavy industrial companies.

  In 2020, Saudi Services for Electro Mechanic Works was awarded the $202m main contract for the fourth expansion phase of IWTP8. Construction works on the project are expected to be completed by the end of this year.

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  READ THE SEPTEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

  Doha’s Olympic bid; Kuwait’s progress on crucial reforms reinforces sentiment; Downstream petrochemicals investments take centre stage

  Distributed to senior decision-makers in the region and around the world, the September 2025 edition of MEED Business Review includes:

  > OLYMPICS: Qatar banks on infrastructure for Olympic bid > QATAR TOURISM: Olympics bid aims to extend tourism gains > CURRENT AFFAIRS: Syria charts post-war reconstruction course > INDUSTRY REPORT: Regional chemicals spending set to soar > DOWNSTREAM: Adnoc set to become a chemicals major > SAUDI STADIUMS: Stadiums become main event for Saudi construction > CONSTRUCTION: Middle East to be a growth leader for global construction > LEADERSHIP: Dubai’s sea-air logistics model powers resilient trade > LEGAL: Dubai's new law aims to reshape construction > KUWAIT MARKET FOCUS: Kuwait’s political hiatus brings opportunity

  To see previous issues of MEED Business Review, please click here

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  Mark Dowdall
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  Masdar and Taraf launch sustainable residential project

  9 September 2025

  Taraf Properties, the real estate division of UAE-based investment group Yas Holding, and Abu Dhabi-based Masdar have announced plans for a 1.4-million-square-metre residential community in Masdar City, Abu Dhabi.

  The development will offer more than 1,000 two- to six-bedroom villas and townhouses, as well as parks and associated facilities.

  No further details regarding the project’s timeline or budget were disclosed by the developers.

  Taraf Properties was launched by Yas Holding last year to diversify its portfolio and support its growth plans. Taraf aims to be a luxury and boutique developer and asset manager, delivering residential and commercial spaces in prime UAE locations. 

  Yas Holding’s CEO, Low Ping, said Taraf was launched “at a time when the UAE is witnessing a surge in long-term investments, supported by strong confidence in the country’s economy, which has strengthened in recent years and is expected to witness continued growth”.

  The launch of Taraf coincided with continued growth in the UAE property market, driven by government initiatives aimed at enhancing economic resilience and expansion.

  Yas Holding’s business portfolio comprises approximately 50 subsidiaries across sectors including healthcare, agriculture, food, technology, education, real estate and aviation.

  The firm operates in the Middle East, Africa, Europe and Asia.

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  READ THE SEPTEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

  Doha’s Olympic bid; Kuwait’s progress on crucial reforms reinforces sentiment; Downstream petrochemicals investments take centre stage

  Distributed to senior decision-makers in the region and around the world, the September 2025 edition of MEED Business Review includes:

  > OLYMPICS: Qatar banks on infrastructure for Olympic bid > QATAR TOURISM: Olympics bid aims to extend tourism gains > CURRENT AFFAIRS: Syria charts post-war reconstruction course > INDUSTRY REPORT: Regional chemicals spending set to soar > DOWNSTREAM: Adnoc set to become a chemicals major > SAUDI STADIUMS: Stadiums become main event for Saudi construction > CONSTRUCTION: Middle East to be a growth leader for global construction > LEADERSHIP: Dubai’s sea-air logistics model powers resilient trade > LEGAL: Dubai's new law aims to reshape construction > KUWAIT MARKET FOCUS: Kuwait’s political hiatus brings opportunity

  To see previous issues of MEED Business Review, please click here

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  Yasir Iqbal
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  Kuwait’s growth picture improves

  9 September 2025

  Download the PDF

  

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  MEED’s September 2025 report on Kuwait includes:

  > COMMENT: Kuwait’s political hiatus brings opportunity
  > GOVERNMENT: Kuwait looks to capitalise on consolidation of power
  > ECONOMY: Kuwait aims for investment to revive economy
  > BANKING: Change is coming for Kuwait’s banks
  > OIL & GAS: Kuwaiti oil activity rising after parliament suspension
  > POWER & WATER: Signs of project progress for Kuwait's power and water sector
  > CONSTRUCTION: Momentum builds in Kuwait construction

  To see previous issues of MEED Business Review, please click here

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  MEED Editorial
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  Bidders wait for Kuwait water project award

  9 September 2025

  

   

  Bidders are still waiting for the letter of contract award to be issued by Kuwait’s Ministry of Electricity, Water & Renewable Energy (MEW) for the planned water distribution complex project in Shuwaikh, according to industry sources.

  Bids were submitted in March this year, with Kuwait’s Khalid Ali Al-Kharafi & Brothers Company emerging as the lowest bidder.

  The full list of submitted bids was:

  • Khalid Ali Al-Kharafi & Brothers Company ($241.65m)
  • Alghanim International General Trading & Contracting Company ($258.9m)
  • Arab Contractors ($276.49m)
  • United Gulf Construction Company ($338.69m)

  Later, in July, bidders were asked to extend their bid bond warranty.

  It is not known why the contract for the project has not yet been officially awarded.

  The tender is a major project for the MEW. It is expected to increase the country’s water storage capacity by 71 million imperial gallons, while also boosting the daily pumping capacity of low-salinity water by 23 million gallons.

  The invitation to bid was originally issued in March 2023, and the bid submission deadline for the project was extended 18 times before bids were ultimately submitted earlier this year.

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  MEED’s September 2025 report on Kuwait includes:

  > COMMENT: Kuwait’s political hiatus brings opportunity
  > GOVERNMENT: Kuwait looks to capitalise on consolidation of power
  > ECONOMY: Kuwait aims for investment to revive economy
  > BANKING: Change is coming for Kuwait’s banks
  > OIL & GAS: Kuwaiti oil activity rising after parliament suspension
  > POWER & WATER: Signs of project progress for Kuwait's power and water sector
  > CONSTRUCTION: Momentum builds in Kuwait construction
  > DATABANK: Kuwait’s growth picture improves

  To see previous reports on other countries, please click here

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  Wil Crisp
• 
  Doha’s Olympic dream

  9 September 2025

  Commentary
  Colin Foreman
  Editor

  Read the September issue of MEED Business Review

  Doha announced in late July that it will bid to host the 2036 Olympic Games. Hosting the world’s largest multi-sport event is a game-changing prospect for Qatar as its economy seeks a renewed sense of direction after hosting the Fifa World Cup in 2022.

  While its economy has performed better than many expected, it has not maintained the vigour it enjoyed before the World Cup. 

  This is most notable in the construction sector, where there was a significant drop off in activity as the World Cup infrastructure construction programme drew to a close.

  Few new projects have moved forward over the past three years. 

  The exception has been in the oil and gas sector. In October 2023, Qatar officially launched its $30bn North Field liquefied natural gas expansion project, which is being delivered with the engineering, procurement and construction of six large trains in two phases: North Field East and North Field South.

  Hosting the world’s largest multi-sport event is a game-changing prospect for Qatar

  In December 2020, Doha was selected to host the Asian Games in 2030. Having hosted the event in 2006, the selection has had little visible impact on the outlook for the Qatar economy. The Olympic Games, which is a much larger and international event, is a different proposition, with the potential to be a driving force for the economy for the next decade. 

  There is one crucial difference between Qatar’s Olympic bid and its World Cup bid in 2010. For the Olympics, Qatar has said that 95% of the required infrastructure is in place. This aligns neatly with the International Olympic Committee’s New Norm policy to be more sustainable. But it also means that while a 2036 Olympics will be an economic stimulant for the Qatari economy, there are diminishing returns when it comes to multiple large-scale international events. 

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  READ THE SEPTEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

  Doha’s Olympic bid; Kuwait’s progress on crucial reforms reinforces sentiment; Downstream petrochemicals investments take centre stage

  Distributed to senior decision-makers in the region and around the world, the September 2025 edition of MEED Business Review includes:

  > OLYMPICS: Qatar banks on infrastructure for Olympic bid > QATAR TOURISM: Olympics bid aims to extend tourism gains > CURRENT AFFAIRS: Syria charts post-war reconstruction course > INDUSTRY REPORT: Regional chemicals spending set to soar > DOWNSTREAM: Adnoc set to become a chemicals major > SAUDI STADIUMS: Stadiums become main event for Saudi construction > CONSTRUCTION: Middle East to be a growth leader for global construction > LEADERSHIP: Dubai’s sea-air logistics model powers resilient trade > LEGAL: Dubai's new law aims to reshape construction > KUWAIT MARKET FOCUS: Kuwait’s political hiatus brings opportunity

  To see previous issues of MEED Business Review, please click here

  https://image.digitalinsightresearch.in/uploads/NewsArticle/14627709/main.gif

  Colin Foreman