Read the September 2023 MEED Business Review
30 August 2023
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Decarbonisation has increased the stakes for nuclear energy despite the perceived risks.
With the Middle East and North Africa (Mena) region set to register a rise of at least 30 per cent in power generation capacity by 2030, a strategy is required to advance energy security while reducing carbon emissions and fossil-fuel dependence.
If hydrocarbons are to be scaled back and battery energy storage remains expensive or untested, nuclear is an obvious solution.
Nuclear energy’s benefits have been consistently recognised in the Middle East.
Iran, despite sanctions, has pressed ahead with its nuclear power projects. On the other side of the Gulf, Abu Dhabi signed contracts in 2009 with a South Korean consortium to build its first nuclear power project in Barakah.
More recently, Egypt has started work on its own nuclear project at El-Dabaa.
More projects are planned. Most notably, Saudi Arabia is advancing early plans for its nuclear power projects.
In the latest issue of MEED Business Review, MEED's energy editor Jennifer Aguinaldo looks at the case for adding nuclear to the energy mix and analyses the progress being made as the Mena region pushes for a nuclear future.
She also discusses small modular reactors and their importance in offsetting concerns about capital expenditure, construction delays and spent-fuel reprocessing.
This month's exclusive 14-page market focus, meanwhile, examines the ambitious plans laid out by Kuwait's new cabinet as it enters office with an expansionary budget and programme of strategic projects.
MEED's latest issue also includes a comprehensive report on the future of engineering, procurement and construction in a sustainable world.
We hope our valued subscribers enjoy the September 2023 issue of MEED Business Review.
Must-read sections in the September 2023 edition of MEED Business Review include:
> AGENDA: Mena pushes for nuclear future
> TECHNOLOGY: Small reactors top nuclear agenda
> CURRENT AFFAIRS: Saudi Arabian economy shows signs of weakness
| INDUSTRY REPORT: The future of EPC in a sustainable world Key highlights from the MEED-Mashreq Contractors Forum on 30 May 2023, which discussed how the engineering and construction sector can enable the delivery of large-scale solar, hydrogen and carbon capture and storage projects in the region. > A new era for EPC contractors > Government support vital for clean energy growth > Private sector vital for sustainable development > Green energy drive requires adequate financing |
> INTERVIEW: Acwa Power zooms in on global water opportunities
> RAIL: GCC's ambitious railway project gains momentum
> REAL ESTATE: UAE real estate construction returns to record highs
> INTERVIEW: EuroChem eyes Mena food security opportunity
> INTERVIEW: Kuwait's Gulf Centre United sets course for expansion
> MARKET TALK: NBK anticipates project revival in Kuwait
> KUWAIT MARKET FOCUS:
> COMMENT: Kuwait lays out ambitious plans
> POLITICS: Stakeholders hope Kuwait can execute spending plans
> ECONOMY: Kuwait enjoys sustained non-oil growth
> BANKING: Kuwaiti banks enter bounce-back mode
> ENERGY: Kuwait’s $300bn energy target is a big test
> POWER & WATER: Warming erodes Kuwait’s power and water reserves
> CONSTRUCTION: Kuwait poised for renewed construction activity
> DATABANK: Kuwait’s headline growth dips
> MEED COMMENTS:
> Mena solar awards trajectory improves
> Abu Dhabi seeks control of pipelines
> Time for Riyadh to prove its mettle
> Dubai plots major projects comeback
> GULF PROJECTS INDEX: Gulf index climbs higher in August
> JULY 2023 CONTRACTS: Region records $12bn of deals signed
> MARKET SNAPSHOT: Mena rail projects
> OPINION: Gulf funds help reshape football
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
Register for MEED's guest program now to access this article.
Exclusive from Meed
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UAE GDP projection corrects on conflict24 April 2026
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April 2026: Data drives regional projects24 April 2026
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Boutique Group tenders Tuwaiq Palace hotel in Riyadh24 April 2026
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Firms announce 129MW Dubai data centre24 April 2026
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Iraq signs upstream oil contract24 April 2026
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Boutique Group tenders Tuwaiq Palace hotel in Riyadh
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Saudi Arabia’s Boutique Group, backed by the sovereign wealth vehicle Public Investment Fund (PIF), has retendered a contract to convert Tuwaiq Palace in Riyadh into a hotel.
Contractors have been given a deadline of 31 May to submit proposals.
The scheme comprises 40 hotel rooms and suites and 56 one- and two-bedroom villas.
According to regional projects tracker MEED Projects, the contract was first tendered in 2022.
In January of that year, Crown Prince Mohammed Bin Salman launched Boutique Group to manage and convert historic and cultural Saudi palaces into ultra-luxury hotels.
Boutique Group’s first phase covers three palaces, two of which are under construction. Al-Hamra Palace in Jeddah is being converted to include 33 suites and 44 villas. In July 2023, MEED reported that Jeddah-based Al-Redwan Contracting was appointed the main contractor for the Al-Hamra Palace conversion.
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In 1957, the Red Palace became the headquarters of the Council of Ministers for 30 years, and later served as the main office for the Board of Grievances until 2002.
Jordan-headquartered Dar Al-Omran is acting as supervision consultant on all three projects.
Photo credits: Omrania
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