Read the March 2024 MEED Business Review

28 February 2024

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Saudi Arabia’s natural resources are estimated to be worth $2.5tn, making the metals and mining industry crucial to Riyadh’s Vision 2030 socioeconomic transformation strategy.

The latest issue of MEED Business Review examines how the kingdom's Ministry of Industry & Mineral Resources is leading efforts to boost investment in the sector with a mineral exploration incentive programme valued at $182m.

In January 2023, Saudi Arabian Mining Company (Maaden) signed a joint-venture agreement with the Public Investment Fund to establish a new entity to invest in mining assets globally, known as Manara Minerals. 

Amid a surge in merger and acquisition (M&A) activity in the global mining sector, the new company entered into a deal in July last year with Brazilian mining major Vale to become a 10% shareholder in its subsidiary, Vale Base Metals. The $3.4bn deal was the third-biggest M&A transaction of the year, according to a GlobalData report that puts the total value of M&A deals in the sector in 2023 at $121bn. 

Meanwhile, this month's exclusive 14-page market report highlights Egypt, which faces both political and economic trials. In an increasingly difficult fiscal position, Egypt also finds itself sitting at the centre of regional conflict, with the situation in Gaza threatening to spill over onto Egyptian soil. Renewed IMF funding promises to solve one problem for Cairo, but there are plenty more waiting.

MEED's latest issue is packed with insight and analysis. The team examines the IMF's downgrade of its Mena growth forecast; looks at the utility infrastructure schemes taking shape at Saudi Arabia's Neom; and assesses the rise in military spending in the region following geopolitical instability. 

In this month's industry report on upstream oil and gas, we predict that after a record year for offshore projects in 2023, the momentum will continue this year with further robust spending. 

The March issue also includes interviews with Rua Al Madinah Holding CEO Ahmed Al Juhani and Hill International CEO Raouf Ghali.

We hope our valued subscribers enjoy the March 2024 issue of MEED Business Review

 

Must-read sections in the March 2024 issue of MEED Business Review include:

AGENDA: Saudi Arabia transforms mining sectorMergers soar in global mining sector

> CURRENT AFFAIRS: IMF downgrades Mena growth forecastThe world is heading for massive LNG oversupply

> INSIGHT: IEA downgrades green hydrogen growth forecast

> SAUDI ARABIA: Neom’s utility projects take shape

INDUSTRY REPORT:
Upstream oil and gas
Offshore spending to remain robust in 2024

> Aramco continues its hunt for hydrocarbons

 

> MILITARY BALANCE: Instability drives up defence budgets

> INTERVIEWS: Driving Madinah’s economic developmentSaudi project win caps record year

> SAUDI TOURISM: Saudi tourism numbers cross 100 million

> LOGISTICS: Aramco and DHL form joint logistics company

> EGYPT MARKET REPORT:
Cairo beset by regional geopolitical storm
More pain for more gain for Egypt
Egypt oil and gas project activity declines
Familiar realities threaten Egypt’s energy hub ambitions
Egypt’s desalination projects inch forward
> Infrastructure carries Egypt construction

MEED COMMENTS: 
Abha airport PPP is a brave new project

Riyadh directive casts doubt on key Aramco projects
PIF steps in to save construction again
Corruption case comes at key time for Saudi projects

> GULF PROJECTS INDEX: UAE drives further projects growth

> JANUARY 2024 CONTRACTS: Region begins year with a record $30.5bn-worth of contract awards

> MARKET SNAPSHOT: Mena construction insights

> OPINIONSyria’s long march in from the cold

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
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    South Korea’s Hyundai Engineering & Construction (E&C) has won a KRW1tn ($725m) contract to build a high-voltage direct current (HVDC) network project in Saudi Arabia.

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  • Chinese-led consortium wins $262m Algeria rail deal

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    The CRBC-led consortium includes China Civil Engineering Construction Corporation and Algeria’s EPE SNTP.

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    13 November 2024

    Construction work on Dubai’s Hatta pumped-storage hydroelectric power plant is 94.15% complete, and generator installations are under way in preparation for a trial operation in the first quarter of 2025.

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  • Bahrain invites independent water prequalifications

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    Bahrain’s Electricity & Water Authority (EWA) has invited interested firms to prequalify for a tender to develop the state’s first independent water project (IWP).

    The Al-Hidd seawater reverse osmosis (SWRO) plant is expected to have a production capacity of about 60 million imperial gallons a day (MIGD) of potable water.

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  • Neom replaces CEO

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    Neom has attracted significant criticism over the past year as it grapples with major programmes of construction work such as The Line. In a statement announcing the appointment of consultants for work on The Line on 11 November, Neom said it “is currently focused on the initial phases of infrastructure and enabling works for the new city”.

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