Read the September 2024 MEED Business Review
4 September 2024
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Electric vehicle (EV) adoption in the GCC is accelerating. The number of EVs on Dubai's roads rose 72% between year-end 2022 and the end of 2023, suggesting that the city's obsession with fast and expensive sports cars and fuel-inefficient four-by-fours could soon be just a speck in the rearview mirror.
The September issue of MEED Business Review looks at the future of EVs in the GCC and finds that the region is on the cusp of an EV production boom.
As governments around the region drive forward their sustainable transport policies in line with their goals of reducing carbon emissions and transitioning away from fossil fuels, cohesive policies will prove key to smoothing out what has so far been a bumpy road for hybrid and electric vehicles.
This support for greener transportation options, combined with energy and economic diversification programmes and ambitious industrialisation plans, has also spurred major investments in EV production. As of July, in Saudi Arabia and the UAE planned projects related to the construction of manufacturing and assembly plants for hydrogen-powered and EVs have a total combined capacity of close to 400,000 vehicles a year.
In MEED's latest issue, we also delve into the downstream sector, where China is expected to lead the increasing global demand for liquefied natural gas (LNG) in the coming decade and hydrocarbons producers in the GCC have committed billions of dollars to rapidly expand their LNG production capacities.
Meanwhile, this month's exclusive 15-page market report highlights Kuwait, where prospects are taking a positive turn as the fiscal deficit is pushing the country towards reforms and the suspension of parliament looks set to ignite the projects market.
In addition, our latest issue is packed with insight and analysis. The team assesses the outlook for the project to expand production facilities at Iraq's Khor Mor gas field and discovers how security concerns are threatening the prospects of Libya's oil sector.
This month's issue also features a round-up of the top 15 stadiums being built or refurbished in Saudi Arabia in preparation for the kingdom's hosting of football’s Fifa World Cup 2034. We also examine how communication gaps are hindering Saudi gigaprojects and find out what the region can do to successfully navigate the impact of digital currencies on foreign exchange markets.
What's more, the September issue includes an interview with Diriyah Company’s chief development officer, Mohammed Saad, about legacy building at the Saudi gigaproject.
We hope our valued subscribers enjoy the September 2024 issue of MEED Business Review.

Must-read sections in the September 2024 issue of MEED Business Review include:
> AGENDA:
> GCC ponders electric future
> Region on the cusp of EV production boom
> CURRENT AFFAIRS:
> Outlook uncertain for Iraq gas expansion project
> Security concerns threaten outlook for Libyan oil sector
|
INDUSTRY REPORT: |
> SAUDI GIGAPROJECTS: Communication gaps hinder Saudi gigaprojects
> INTERVIEW: Legacy building at Diriyah
> SAUDI STADIUMS: Top 15 Saudi stadium projects
> LEADERSHIP: Navigating the impact of digital currencies on forex markets
> KUWAIT MARKET REPORT:
> COMMENT: Kuwait’s prospects take positive turn
> GOVERNMENT: Kuwait navigates unchartered political territory
> ECONOMY: Fiscal deficit pushes Kuwait towards reforms
> BANKING: Kuwaiti banks hunt for growth
> OIL & GAS: Kuwait oil project activity doubles
> POWER & WATER: Kuwait utilities battle uncertainty
> CONSTRUCTION: Kuwait construction sector turns corner
> MEED COMMENTS:
> Saudi World Cup bid bucks global trend for sporting events
> Finance deals reflect China’s role in delivering Vision 2030
> Harris-Walz portents shift in US policy on Gaza
> Aramco increases spending despite drop in profits
> GULF PROJECTS INDEX: UAE leads slight dip in market
> JULY 2024 CONTRACTS: Saudi Arabia boosts regional total again
> ECONOMIC DATA: Data drives regional projects
> OPINION: The beginning of the end
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
Exclusive from Meed
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SLB passes evaluation for Kuwait upstream project12 December 2025
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SAR to tender new phosphate rail track section in January12 December 2025
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Contract award nears for Saudi Defence Ministry headquarters10 December 2025
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Firms prepare Riyadh government office PPP bids10 December 2025
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Municipality seeks consultants for Dubailand drainage project10 December 2025
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Related Articles
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SLB passes evaluation for Kuwait upstream project12 December 2025
The US-based oilfield services company SLB, formerly Schlumberger, has passed the technical bid evaluation for a major project to develop Kuwait’s Mutriba oil field.
The Houston-headquartered company was the only bidder to pass the technical evaluation for the Mutriba integrated project management (IPM) contract.
The minimum passing technical evaluation score was 75%.
The full list of bidders was:
- SLB (US): 97%
- Halliburton (US): 72%
- Weatherford (US): 61.5%
The decision was finalised at a meeting of the Higher Purchase Committee (HPC) of state-owned Kuwait Petroleum Corporation (KPC) on 20 November 2025.
According to a document published earlier this year by KOC, the IPM tender for the Mutriba field aims to “accelerate production through a comprehensive study that includes economic feasibility evaluation, well planning and long-term sustainability strategies”.
The field was originally discovered in 2009.
Commercial production from the Mutriba field started earlier this year, on 15 June, after several wells were connected to production facilities.
The field is located in a relatively undeveloped area in northwest Kuwait and spans more than 230 square kilometres.
The oil at the Mutriba field has unusually high hydrogen sulfide content, which can be as much as 40%.
This presents operational challenges requiring specialised technologies and safety measures.
In order to start producing oil at the field, KOC deployed multiphase pumps to increase hydrocarbon pressure and enable transportation to the nearest Jurassic production facilities in north Kuwait.
The company also built long-distance pipelines stretching 50 to 70 kilometres, using high-grade corrosion-resistant materials engineered to withstand the high hydrogen sulfide levels and ensure long-term reliability.
KOC also commissioned the Mutriba long-term testing facility in northwest Kuwait, with a nameplate capacity of around 5,000 barrels of oil a day (b/d) and 5 million standard cubic feet of gas a day (mmscf/d).
Once this facility was commissioned, production stabilised at 5,000 b/d and 7 mmscf/d.
In documents published earlier this year, KOC said that starting production from the field had “laid a solid foundation” for the IPM contract by generating essential reservoir and surface data that will guide future development.
Future output from the field is expected to range between 80,000 and 120,000 b/d, in addition to approximately 150 mmscf/d of gas.
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SAR to tender new phosphate rail track section in January12 December 2025

Saudi Arabian Railways (SAR) is expected to float another multibillion-riyal tender to double the tracks on the existing phosphate railway network, connecting the Waad Al-Shamal mines to Ras Al-Khair in the Eastern Province.
MEED understands that the new tender – covering the second section of the track-doubling works, spanning more than 150 kilometres (km) – will be issued in January.
The new tender follows SAR’s issuance of the tender for the project's first phase in November, which spans about 100km from the AZ1/Nariyah Yard to Ras Al-Khair.
The scope includes track doubling, alignment modifications, new utility bridges, culvert widening and hydrological structures, as well as the conversion of the AZ1 siding into a mainline track.
The scope also covers support for signalling and telecommunication systems.
The tender notice was issued in late November, with a bid submission deadline of 20 January.
Switzerland-based engineering firm ARX is the project consultant.
MEED understands that these two packages are the first of four that SAR is expected to tender for the phosphate railway line.
The other packages expected to be tendered shortly include the depot and the systems package.
In 2023, MEED reported that SAR was planning two projects to increase its freight capacity, including an estimated SR4.2bn ($1.1bn) project to install a second track along the North Train Freight Line and construct three new freight yards.
Formerly known as the North-South Railway, the North Train is a 1,550km-long freight line running from the phosphate and bauxite mines in the far north of the kingdom to the Al-Baithah junction. There, it diverges into a line southward to Riyadh and a second line running east to downstream fertiliser production and alumina refining facilities at Ras Al-Khair on the Gulf coast.
Adding a second track and the freight yards will significantly increase the network’s cargo-carrying capacity and facilitate increased industrial production. Project implementation is expected to take four years.
State-owned SAR is also considering increasing the localisation of railway materials and equipment, including the construction of a cement sleeper manufacturing facility.
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Contract award nears for Saudi Defence Ministry headquarters10 December 2025

Saudi Arabia’s Defence Ministry (MoD) is preparing to award the contract to build a new headquarters building, as part of its P-563 programme in Riyadh.
MEED understands that bid evaluation has reached advanced stages and the contract award is imminent.
The MoD issued the tender in April. The commercial bids were submitted in September, as MEED reported.
Located to the northwest of Riyadh, the P-563 programme includes the development of facilities and infrastructure to support the MoD’s broader initiatives under the kingdom’s Vision 2030 strategy.
It covers the construction of:
- A new military city featuring the MoD headquarters, support and logistics facilities, a residential and commercial community and space for future command centres
- A National Defence University with a library, conference centre and academic buildings
- A self-sustaining Joint Forces Command compound located approximately 50 kilometres from the military city
The budget for the entire programme is expected to be $10bn-$12bn.
In September 2023, MEED reported that Spain-headquartered Typsa had won two contracts for the project.
The first contract, worth $11.4m, included data management, geographic information systems management, geotechnical reporting and the preparation of the phase one final traffic report. The contract duration was 270 days from the notice to proceed.
The second contract, valued at $10.8m, involved preparing four conceptual masterplans for the P-563 site. It was set to last 255 days from the notice to proceed.
These followed a $290m consultancy contract awarded to Typsa in March of the same year. The single-award task order covered a three-year base period, with an optional two-year extension.
Typsa’s scope of work included programme management planning, communications, change and quality management and cost and schedule tracking.
It also included design requirements, codes, standards and submission requirements, programme guidance, study integration, risk analysis and management, design reviews and a programme-of-work breakdown plan.
READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDFProspects widen as Middle East rail projects are delivered; India’s L&T storms up MEED’s EPC contractor ranking; Manama balances growth with fiscal challenges
Distributed to senior decision-makers in the region and around the world, the December 2025 edition of MEED Business Review includes:
> AGENDA 1: Regional rail construction surges ahead> INDUSTRY REPORT 1: Larsen & Toubro climbs EPC contractor ranking> INDUSTRY REPORT 2: Chinese firms expand oil and gas presence> CONSTRUCTION: Aramco Stadium races towards completion> RENEWABLES: UAE moves ahead with $6bn solar and storage project> INTERVIEW: Engie pivots towards renewables projects> BAHRAIN MARKET FOCUS: Manama pursues reform amid strainTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15222401/main.gif -
Firms prepare Riyadh government office PPP bids10 December 2025

Firms are preparing to submit bids for a contract covering the construction of the Riyadh administrative office for Defence Ministry (MoD) personnel.
The clients have asked firms to submit their bids by 26 March 2026.
The MoD is developing the project in collaboration with Saudi Arabia's National Centre for Privatisation & PPP (NCP).
The project will be implemented under a design, build, finance and maintain contract with a term of 27.5 years.
The administrative complex, located in the north of Riyadh, will cover about 52,793 square metres. It will accommodate 4,500 employees and provide 3,200 parking spaces.
In September, the NCP announced the prequalified bidders for the project. These include:
- Tamasuk / Alghanim International (local/Kuwait)
- Mota-Engil / Tatweer Buildings Company / Alternative Resources Investments (Portugal/local/UAE)
- Albawani / Areic (local/local)
- Bonyan Real Estate Investment / Artar (local/local)
- FCC / IHCC (Spain/local)
- Vision Invest (local)
- Own Real Estate (local)
- Alfanar (local)
- Lamar Holding (local)
- Alyamama (local)
- El-Seif Engineering Contracting (local)
- Al-Kifah Holding Company (local)
- Alargan (Kuwait)
- Asyad (Oman)
The NCP and MoD started the expression of interest and request for qualification process for the project in May, as MEED reported.
According to an official statement, "the selected private-sector partner will be responsible for the design, construction and long-term maintenance of the facilities and supporting infrastructure, as well as coordination with stakeholders and obtaining all necessary permits".
The value of public-private partnership (PPP) contracts in Saudi Arabia has risen sharply over the past few years as the government seeks to develop projects through the private sector and diversify funding sources.
PPPs have been used in Saudi Arabia and the wider GCC region for over two decades, but have been mainly limited to power generation and water desalination plants, where the developer benefits from guaranteed take-or-pay power-purchase agreements that eliminate demand risk.
However, in the past three years, the government has successfully implemented PPPs in several new sectors, including education and healthcare, to finance, build and operate schools and hospitals. Forthcoming PPP projects include the estimated $2.5bn Asir-Jizan highway, which would be the first road concession in the GCC; the multibillion-dollar contract to develop the expansion of Abha International airport; and the Qiddiya high-speed rail scheme.
Outside the utilities sector, the NCP has more than 170 PPPs in the pipeline, covering long-term concession agreements in projects as diverse as municipal laboratories, television and radio tower infrastructure, court complexes and logistics zones.
As capital expenditure continues to increase, the NCP is expected to add dozens more PPPs to its future pipeline to relieve the state’s financial burden and to stimulate the private sector’s involvement in the local projects market.
READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDFProspects widen as Middle East rail projects are delivered; India’s L&T storms up MEED’s EPC contractor ranking; Manama balances growth with fiscal challenges
Distributed to senior decision-makers in the region and around the world, the December 2025 edition of MEED Business Review includes:
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Municipality seeks consultants for Dubailand drainage project10 December 2025
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Dubai Municipality has invited consultants to prequalify for a contract to provide supervision services on a major drainage infrastructure project serving developed communities in Dubailand.
The sewerage and stormwater drainage project, listed under the code DS-204-S1, is being procured through the government’s Sewerage and Recycled Water Projects Department (SRPD).
The bid submission deadline is 8 January.
The consultancy contract follows the issuance in November of the related construction package, DS-204-C1, for which the municipality invited contractors to prequalify.
The scope includes sewage gravity pipelines with diameters of up to 2,200mm, a sewage lift station with a capacity of three cubic metres a second, and a 1,400mm-diameter sewage rising main that will take pumped sewage from the lift station to the main sewer network.
The bid submission deadline for the construction package is also 8 January 2026.
The tenders form part of Dubai’s wider investment in sewerage expansion, including the $8bn Tasreef programme, for which several projects have moved into the execution phase in recent months.
Once completed, the Tasreef system is expected to increase Dubai’s overall drainage capacity by about 700% and provide daily stormwater treatment capacity exceeding 20 million cubic metres.
READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDFProspects widen as Middle East rail projects are delivered; India’s L&T storms up MEED’s EPC contractor ranking; Manama balances growth with fiscal challenges
Distributed to senior decision-makers in the region and around the world, the December 2025 edition of MEED Business Review includes:
> AGENDA 1: Regional rail construction surges ahead> INDUSTRY REPORT 1: Larsen & Toubro climbs EPC contractor ranking> INDUSTRY REPORT 2: Chinese firms expand oil and gas presence> CONSTRUCTION: Aramco Stadium races towards completion> RENEWABLES: UAE moves ahead with $6bn solar and storage project> INTERVIEW: Engie pivots towards renewables projects> BAHRAIN MARKET FOCUS: Manama pursues reform amid strainTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15218750/main.jpg

