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MEED February 2023 Webinar: Saudi Arabia 2023 Outlook and 2022 Review

26 February 2023

The webinar focuses on discussing the economic outlook, investment opportunities, and business strategies in Saudi Arabia for the year 2023.

As a MEED subscriber, you will be invited to exclusive monthly webinars on the trending topics in the region’s top sectors.

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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.

The webinar provides an interactive platform for participants to engage with the speakers, ask questions, and exchange ideas. It also offers networking opportunities for participants to connect with other business professionals and potential partners in Saudi Arabia.

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  • Contractors prepare bids for Aramco gas compression project

    13 November 2025

     

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    Saudi Aramco is making progress with the main contract tendering process for a project to boost gas compression capacity at the Shedgum and Uthmaniya processing plants in the kingdom’s Eastern Province.

    The Shedgum and Uthmaniya plants currently receive approximately 870 million cubic feet a day (cf/d) and 1.2 billion cf/d of Khuff raw gas, respectively.

    Through this multibillion-dollar project, Aramco aims to increase the compression and processing capacity of the two plants, as well as to construct new pipelines to enhance gas transport.

    Contractors are preparing bids for several engineering, procurement and construction (EPC) packages of the Shedgum and Uthmaniya gas compression capacity expansion project. Aramco has set a bid submission deadline of 17 November, according to sources.

    The Saudi energy giant is understood to have started the solicitation of interest process for the main EPC contract tendering exercise in the fourth quarter of last year.

    Aramco then issued the tenders for the EPC packages of the scheme during the second quarter of this year and set an initial bid submission deadline of 17 August, the sources said.

    In line with its aim of increasing gas production and processing capacity by 60% by 2030, with 2021 as its baseline, Aramco is investing significant capital in gas projects in the kingdom this year.

    Aramco’s capital expenditure (capex) in the third quarter of 2025 stood at $12.55bn, a marginal year-on-year increase of 2%. For the first nine months of the year, the firm registered capex of $37.41bn, an increase of 3.38% compared to the same period last year.

    The company previously announced capital investment guidance in the range of $52bn-$58bn for 2025, excluding around $4bn of project financing.

    ALSO READ: Aramco turns attention to strategic projects

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

    Mena players up the ante in global LNG production race; Investment takes UAE non-oil economy from strength to strength; Project finance activity draws international lenders back to market

    Distributed to senior decision-makers in the region and around the world, the November 2025 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
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    Indrajit Sen
  • Aramco Stadium races towards completion

    12 November 2025

     

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    The Aramco Stadium in Khobar is moving forward at an impressive pace as the fast-track project races towards completion in 2026.

    The 47,000-seat stadium will be the new home for the Aramco-owned Al-Qadsiah Club and a key venue for the 2027 AFC Asian Cup and the 2034 Fifa World Cup. 

    The project’s progress stems from detailed planning and an accelerated delivery strategy. The project was conceived in May 2023, with the design process, managed by Aramco, commencing shortly thereafter. 

    “We completed the design within six months,” said Mohammed Subhi, the Aramco Stadium’s project manager.


    The project advanced quickly due to thorough planning and a fast-track delivery approach. Initiated in May 2023, the design phase—overseen by Aramco—was completed within six months

    An early engagement approach with the main contractor – a joint venture of Besix and Al-Bawani – was instrumental in maintaining momentum. This partnership began early in 2024, allowing for collaborative input on critical construction elements. 

    This upfront collaboration minimised pre-construction time, ensuring a rapid transition to site work.

    Engineering challenges

    The stadium’s architectural design, inspired by the natural whirlpools of the Gulf and featuring interwoven transparent sails, presents significant engineering challenges, particularly in the structural steel and façade work. For spectator comfort, the stadium is equipped with full cooling systems and designed to the highest international standards.

    Logistics management is another crucial facet of the project, which is located in central Khobar. With thousands of workers on site, the movement of materials is tightly controlled to minimise community disruption. 

    “We control how many trucks can enter the site and at what time. For example, we cannot cast concrete during the day. It has to be after 6pm, up until the early morning,” said Subhi.

    A key priority on site is health and safety, an area where the organisation’s legacy from its oil and gas operations is clearly visible. Subhi explains that the principle of health and safety is part of the company’s DNA and is embodied in the deployment of advanced technology and rigorous standards, which have collectively resulted in over 10 million safe working hours to date.

    The project employs a sophisticated Smart Safety Command Centre (SCC), which utilises artificial intelligence-based monitoring and 24/7 surveillance. One key feature of the centre is the crane collision prevention system – a key technological advancement in heavy machinery coordination and a first for the region. 

    “We have tower cranes and crawler cranes talking to each other. The anti-collision system means cranes talk to each other without human interference, and they automatically shut down when they are too close to each other,” said Subhi.


    A key technological advancement is the crane collision prevention system, which means the cranes talk to each other and shut down if they become too close

    In addition to ground operations, the project is leveraging aerial technology to mitigate risk in high-altitude work.

    “We have used drones for the inspection of the cranes and inspection of the steel structure itself to minimise the risk of working at height,” said Subhi.


    Drones have been adopted on-site to mitigate the risk of working at height

    Worker welfare

    The project’s commitment extends beyond mere regulatory compliance to comprehensive worker welfare, establishing a high standard for construction sites in the region. 

    With current staffing reaching approximately 11,000 direct and indirect workers, welfare provisions are a core priority, linking directly back to Aramco’s corporate standards.

    In a region where extreme heat is a constant challenge, the project has implemented advanced heat stress management protocols. This includes the installation of heat sensors with alarm systems, mandatory work stoppage during peak heat hours and regular briefings on heat exhaustion symptoms. Fully air-conditioned rest areas are provided for breaks and meals.

    Aramco is also committed to developing national talent. A significant proportion of the staff are young, and about 20% of the team are women.

    The relationship with the joint-venture contractor is defined by collaboration rather than traditional client-contractor hierarchy. “We are one team, working together,” said Subhi. This approach has fostered a cooperative environment that is accelerating the on-site progress towards the 2026 completion goal. 

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  • Hitachi wins Alexandria Raml tram systems deal

    12 November 2025

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    Hitachi Rail has announced that it has won a contract related to the modernisation and upgrade of the Alexandria Raml tram network in Egypt.

    Hitachi Rail said it will deliver advanced signalling and communications systems, an operational control centre and supervisory control and data acquisition, security systems with CCTV cameras and access control, passenger information and on-board equipment.

    The contract was awarded by a joint venture of Hassan Allam and Arab Contractors.

    The project scope includes rehabilitating a 13.2-kilometre tram line, constructing a maintenance depot, developing elevated viaducts and upgrading 24 stations.

    The project will reduce journey times from 60 to 35 minutes by increasing the operational speed on the line from 11 kilometres an hour (km/h) to 21km/h. The project will also increase the hourly capacity from 4,700 to 13,800 passengers in each direction. 

    UK analytics firm GlobalData expects the Egyptian construction industry to grow by 6.5% in real terms in 2025, supported by investments in oil and gas, industrial and housing construction projects. According to the Central Bank of Egypt, the country’s average construction production index grew by 5.8% year-on-year in the first 10 months of 2024.

    GlobalData says the construction industry's output is expected to register an annual average growth rate of 8% in 2026-29, supported by investments in commercial, renewable energy and transport infrastructure projects, coupled with the government’s target of developing 10GW of renewable energy projects by 2028 under the Nexus of Water, Food and Energy Programme.

    The infrastructure construction sector is expected to expand by 4.4% in real terms in 2025 and record an annual average growth rate of 7% in 2026-29, supported by government plans to continue its spending on transport infrastructure, ports and terminals.

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    Yasir Iqbal
  • Contract award nears for Al-Ula tram works

    12 November 2025

     

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    Saudi Arabia’s Royal Commission for Al-Ula (RCU) is preparing to award the contract to build infrastructure for the tramway at the Al-Ula development.

    MEED understands that bid evaluation has reached advanced stages and the contract award is imminent.

    Contractors submitted revised bids for the scheme in August, as MEED reported.

    It is understood that consortiums were asked to propose self-funded financing arrangements for the project.

    The first phase of the tram scheme is a 22.4-kilometre-long line with 17 stations, operated by 20 trams. It will link Al-Ula International airport to five of the area’s historical regions.

    The scope of work includes the design and construction of a tram depot, tram tracks, technical buildings, station buildings and other associated infrastructure.

    In June, MEED exclusively reported that the RCU had asked firms to submit their final offers for a contract to build tramway infrastructure at the Al-Ula development.

    The RCU issued a request for proposals in June last year and received commercial bids for the project on 10 November.

    France’s Systra is the consultant.

    In October 2023, the RCU announced that France’s Alstom will supply rolling stock and systems for the Al-Ula tram scheme.

    The RCU unveiled an investment plan worth SR57bn ($15bn) to regenerate Al-Ula in April 2021. About $3.2bn has been allocated for infrastructure development, including the tram and renewable power generation.

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  • Contractors submit bids for $1.4bn Kuwait oil pipeline

    12 November 2025

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    A low bid of KD419m ($1.4bn) has been submitted on an oil pipeline project in Kuwait, according to figures published by the country’s Central Agency for Public Tenders (Capt).

    The bid was submitted by local contractor Alghanim International General Trading & Contracting.

    The contract was tendered by state-owned upstream operator Kuwait Oil Company (KOC) and covers the construction of crude oil pipelines and associated works.

    The full list of bidders and prices is:

    • Alghanim International General Trading & Contracting – KD419m ($1.4bn)
    • Mechanical Engineering & Construction Company – KD422.5m
    • Al-Dar Engineering & Construction Company – KD425.7m
    • Combined Group Contracting Company – KD502m
    • Heisco – KD506.1m
    • Sayed Hameed Behbehani & Sons – KD674m

    Kuwait is trying to boost project activity in its upstream sector.

    The country’s national oil company, Kuwait Petroleum Corporation, is aiming to increase oil production capacity to 4 million barrels a day (b/d) by 2035.

    In August, Kuwait announced that it was producing 3.2 million b/d.

    Earlier this month, KOC said it was planning to spend KD1.2bn ($3.92bn) on its exploration drilling programme through 2030.

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    Wil Crisp