MEED February 2023 Webinar: Saudi Arabia 2023 Outlook and 2022 Review
26 February 2023
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Saudi Arabia 2023 Outlook and 2022 Review brings together industry experts, government officials, and business leaders to share their insights and perspectives on the current state and future of the Saudi Arabian economy.
The discussion covers a range of topics, including the impact of the COVID-19 pandemic on the economy, the government’s plans for economic diversification, and investment opportunities in various sectors such as healthcare, infrastructure, and renewable energy.
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Exclusive from Meed
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Developers prepare bids for 1GW Oman bess scheme12 October 2026
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Frontrunner emerges for Saudi Arabia’s GCC rail link design12 October 2026
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Houthi escalation targets Saudi airports12 October 2026
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Egypt and Saudi Arabia sign oil and gas deal12 October 2026
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JGC yet to return evacuated workers to Basra refinery12 October 2026
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Related Articles
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Frontrunner emerges for Saudi Arabia’s GCC rail link design12 October 2026

French engineering firm Systra has emerged as the frontrunner to provide design consultancy services for the Saudi Arabian section of the GCC railway network, which is intended to link all six member states.
The tender covers the concept, preliminary and issued-for-construction design stages. Saudi Arabia Railways (SAR) requires the selected consultant to review, update and complete the existing preliminary design.
Consultants submitted proposals on 14 July, as MEED reported.
The consultants who submitted bids included:
- AtkinsRealis with Khatib & Alami
- Deutsche Bahn with ARX
- Egis with Sener
- Idom with Dar Al-Handasah
- Systra
Saudi Arabia’s section of the railway will start at Al-Khafji in the Eastern Province, near the border with Kuwait, and end at Al-Batha, on Saudi Arabia’s border with the UAE. The route in Saudi Arabia will be about 672 kilometres (km) long.
Tendering is also ongoing for a separate contract involving design management and review to oversee engineering works on the GCC railway network.
The tender was issued on 9 September, with a submission deadline of 18 October, as MEED exclusively reported.
The tender seeks a consultant to manage, audit and verify deliverables produced by SAR’s separately appointed design services consultant, rather than carry out the design itself.
Construction will be tendered separately through competitive bidding once designs are approved.
The GCC railway will run for about 672km inside Saudi Arabia, linking the kingdom’s existing network to Kuwait, Qatar, the UAE and Bahrain, with four sections of about 141km, 200km, 151km and 21km, respectively.
The line is planned as a single-track, non-electrified corridor for mixed freight and passenger traffic, with a maximum axle load of 32.4 tonnes and passing loops for bidirectional working.
GCC railway line
Under the overall plan, the railway will run from Kuwait, pass through Dammam in Saudi Arabia, reach Bahrain via a planned causeway, and continue from Dammam to Qatar, the UAE and, ultimately, Muscat via Sohar in Oman. The railway is reported to cover about 2,186km in total.
The route length within each member state is as follows:
- UAE – 684km
- Saudi Arabia – 672km
- Oman – 306km
- Qatar – 283km
- Kuwait – 145km
- Bahrain – 36km
The railway is designed for passenger trains travelling at 220 kilometres an hour (km/h) and freight trains operating at 80km/h–120km/h.
With high levels of project activity, governments in spending mode and renewed cooperation under the Al-Ula Declaration, the latest efforts to restart the GCC railway project may make more progress than previous attempts. If completed, the railway could prove transformational for a region that is globally connected but still divided by national borders.
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Egypt and Saudi Arabia sign oil and gas deal12 October 2026
Egypt and Saudi Arabia have signed an agreement to strengthen cooperation in the oil, natural gas and petrochemicals sectors, according to a statement from Egypt’s Ministry of Petroleum & Mineral Resources.
The memorandum of understanding (MoU) was signed in Riyadh by Karim Badawi, Egypt’s minister of petroleum and mineral resources, and Abdulaziz Bin Salman, Saudi Arabia’s minister of energy.
Under the agreement, both sides will enhance cooperation in trading, transporting, storing and distributing crude oil, petroleum products and natural gas.
They will also expand cooperation on developing the infrastructure and logistics services that support these activities.
In its statement, Egypt’s Ministry of Petroleum & Mineral Resources said: “These efforts will contribute to improving energy market efficiency, enhancing the resilience and reliability of supply chains, and strengthening energy security.”
The MoU also provides for expanded cooperation in exchanging expertise and best practices in operating and developing fuel stations, as well as in transporting and tracking petroleum products and liquefied petroleum gas cylinders.
Additionally, the agreement seeks to explore investment opportunities in joint projects and promote exports.
The latest agreement comes as Egypt becomes an increasingly important export route for Saudi Arabia.
Due to disruptions and security risks affecting shipments through the Strait of Hormuz, Saudi Arabia has been redirecting crude exports via its East-West Pipeline to Yanbu on the Red Sea.
Meanwhile, the Bab El-Mandeb Strait, at the southern end of the Red Sea, has also become a security concern due to military activity in Yemen. Egypt offers an alternative route through the Sumed pipeline, which runs from Ain Sokhna on the Red Sea to Sidi Kerir on the Mediterranean.
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JGC yet to return evacuated workers to Basra refinery12 October 2026

Japan’s JGC has yet to bring evacuated workers back to the Basra refinery project in Iraq, according to industry sources.
JGC evacuated its personnel from the site in the southern oil hub of Basra following the start of the regional conflict on 28 February, when the US and Israel attacked Iran.
The evacuation halted work on the project, which was in its final construction stage.
On 14 August 2026, Iraq’s Ministry of Oil announced that it had signed an agreement with JGC to resume work on the fluid catalytic cracking (FCC) project at Basra refinery.
One source said: “Even though the agreement to bring the evacuated workers back was signed about two months ago, there is still no sign of the evacuated workers on the project site.
“It is possible that they will return soon, but it is hard to tell what will happen next in the current security environment.”
Earlier this month, Iraq’s Ministry of Oil said it met with Japanese officials to discuss plans to commission the FCC unit under the Basra refinery upgrade project.
The statement did not say when the evacuated JGC workers would return to the project site.
Strategic project
Iraq’s state-owned South Refineries Company (SRC) sent JGC notice of the main contract award for the FCC package of the Basra refinery upgrade project in August 2020.
JGC was awarded the contract in consortium with South Korea’s Hyundai E&C.
The official contract signing ceremony was held in Baghdad on 1 October 2020.
The contract awarded to JGC, which uses the engineering, procurement, construction and commissioning model, was worth $3.78bn.
The FCC package is part of a broader project to upgrade the Basra refinery.
The project site is located about 12 kilometres east of Iraq’s southern city of Basra.
The wider upgrade project involves installing new facilities on land adjacent to the existing Basra refinery, including a vacuum distillation unit and a diesel desulphurisation unit.
In April 2021, France’s Axens won a contract in Iraq to provide four process technologies to SRC for the Basra refinery upgrade project.
The technologies that SRC selected are:
- Diesel hydrotreatment unit (Prime-D)
- Vacuum gasoil (VGO) hydrotreating unit
- VGO fluid catalytic cracker unit
- Oligomerisation unit (polynaphtha)
In addition, Axens is providing catalysts and adsorbents, proprietary equipment, training and technical services.
MEED’s latest report on Iraq includes:
> COMMENT: Iraq’s reform window narrows
> GOVERNMENT: Al-Zaidi takes Iraq’s premiership under US shadow
> BANKING: Financial challenge tests Iraq’s resolve
> ECONOMY: Iraq enters era of resilience, reform and rising risks
> OIL & GAS: Iraqi oil and gas sector in crisis
> POWER & WATER: Focus shifts to delivery of Iraq utilities expansion
> CONSTRUCTION: Momentum builds in Iraq’s post-war construction sectorTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20503212/main.png -
Contractors prepare Jordan stadium prequalification12 October 2026

Contractors are preparing to submit prequalification statements on 14 October for a contract to build Jordan’s Al-Hussein Bin Abdullah II International Stadium, located east of the capital, Amman.
The project is part of the first phase of the Amra City development masterplan and is being implemented by Jordan Cities & Facilities Development Company, a Jordan Investment Fund-owned company.
Main works are expected to begin early next year, with the stadium slated for completion in 2029.
The project will cover about 1 million square metres, and the stadium will seat 50,000 spectators.
The stadium is being built within the Amra City development, which is located about 40 kilometres (km) from downtown Amman and 35km from Zarqa and Queen Alia International airport.
MEED reported that preliminary excavation and site preparation began in June.
The project forms part of Jordan’s Economic Modernisation Vision (EMV) 2023-25.
The EMV – Amman’s flagship reform programme – aims to increase real income per capita by an average of 3% annually, create 1 million jobs and more than double the country’s GDP over the next decade.
The strategy envisages a leading role for the private sector, which is expected to account for 73% of the estimated $58.8bn investment required.
READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDFIndustry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.
Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
> AGENDA: Oxagon takes centre stage at Neom> MARKET FOCUS: Saudi projects hold steady> INDUSTRY REPORT: MEED’s 2026 GCC power developer ranking> LEADERSHIP: The future city does not need to hang above the groundTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20501232/main.png -
Abu Dhabi plans Mussafah road upgrades12 October 2026
Abu Dhabi’s Department of Municipalities and Transport (DMT) has announced plans to upgrade roads in Mussafah, improving links between the industrial area, Mohamed Bin Zayed City and Zayed City.
The scheme covers about 13 kilometres of roads on the E30 and 8th Street. It aims to reduce congestion, improve road safety and cut journey times.
The works include a new three-lane highway in each direction along 8th Street, with parallel three-lane service roads on both sides providing access to local businesses and facilities.
The upgraded corridor is expected to accommodate up to 4,000 vehicles an hour.
Other works include upgrades to four E30 interchanges, improved links to 8th Street and the E20, and modifications to nine junctions.
The DMT also plans to build two bridges connecting Mussafah and Mohamed Bin Zayed City, along with a pedestrian bridge.
Abu Dhabi is planning major investments to upgrade its road network across the emirate.
Last week, it disclosed plans for a major new transport corridor in the capital, comprising a 37km coastal route linking Al-Hudayriyat Island with the E11 at Al-Nouf.
It is planned to have three lanes in each direction and will include a tunnel, about 7km of marine bridges and about 4km of causeways.
The scheme will provide a direct connection between Al-Dhafra, Al-Hudayriyat Island and Abu Dhabi Island via Halat Al-Bahrani, Al-Futaisi and Al-Aryam islands.
READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDFIndustry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.
Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
> AGENDA: Oxagon takes centre stage at Neom> MARKET FOCUS: Saudi projects hold steady> INDUSTRY REPORT: MEED’s 2026 GCC power developer ranking> LEADERSHIP: The future city does not need to hang above the groundTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/20501218/main.jpg