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.

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.

Related Articles
  • Saudi housing entity awards infrastructure contract

    24 November 2025

     

    Saudi Arabia’s National Housing Company (NHC) has awarded Riyadh-based Alomaier Trading & Contracting Company a contract to carry out infrastructure works at its Khuzam residential development in Riyadh.

    The scope of work covers all infrastructure works across an area of 4,000,000 square metres (sq m) in stage three, phase three of the Khuzam residential project.

    Construction works have started, and the project is expected to be completed in 2028.

    NHC’s Khuzam project is located to the north of Riyadh, near King Khalid International airport and the Expo 2030 site.

    The development will offer more than 50,000 residential units and will include parks, commercial areas and other associated amenities.

    It will also feature a grand park spanning an area of more than 4.5 million sq m.

    MEED reported in 2020 that Riyadh planned to oversee the development of more than 1 million homes by 2025 to meet growing demand in the kingdom.

    By 2030, the Saudi capital aims to more than double its population, from 7-8 million to 15-20 million, and become one of the 10 wealthiest cities in the world.

    Alomaier Trading & Contracting is undertaking some major infrastructural development projects across the kingdom.

    In 2023, MEED reported that Saudi Arabia’s National Water Company had awarded a contract worth SR371m ($99m) to Alomaier Trading & Contracting. It covers the construction of a sewage network in Dammam’s King Fahd suburb and adjacent areas.

    The contract also involves the construction of regression lines with diameters of up to 700 millimetres (mm) and a total length of 300 kilometres (km), as well as five ejection lines with diameters of up to 500mm and a total length of 15km, according to data obtained from the regional projects tracker MEED Projects.

    The firm specialises in the construction of roads, railways and other infrastructural development works.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15141143/main.jpeg
    Yasir Iqbal
  • Saudi utility firm awards water transmission contract

    24 November 2025

    Saudi Arabia’s state-owned utility National Water Company (NWC) has awarded a contract for the operation and maintenance of water distribution networks to local firm International Water Distribution Company (Tawzea).

    The project comprises the operation and maintenance of water transmission pipelines in Medina province, Sisco Holding announced.

    Sisco Holding, also known as Saudi Industrial Services Company, holds a 50% stake in Tawzea. The other 50% stake is owned by Amiantit Water, a subsidiary of Saudi Arabian Amiantit Company.

    The contract is valued at SR133.4m ($35.6m) and has a duration of 36 months.

    It covers main and secondary pipelines, reservoirs, pumping stations, valves and all related components of the water distribution system.

    NWC has also been advancing major sewer network expansion plans in Hafar Al-Batin and Al-Qaisomah.

    The utility recently awarded local firm Alkhorayef Water & Power Technologies (AWPT) a contract to deliver the next phase of this project.

    The phase four (part two) package involves constructing about 184 kilometres of sanitary sewer pipeline.

    As of September, NWC had awarded $337m-worth of contracts. This includes a separate contract awarded to AWPT in August for a sewage network scheme in Al-Kharj governorate.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15140733/main.jpg
    Mark Dowdall
  • Chinese firm signs deal for Algerian steel project

    24 November 2025

    China’s Sinomach Heavy Equipment has signed a contract to develop a steel rolling facility in Algeria.

    The project will be executed by its subsidiary, China National Heavy Machinery Corporation (CNHMC).

    The turnkey contract includes planning, design, equipment supply, construction, installation and commissioning.

    The scope of the project includes:

    • A rolling mill production line
    • Auxiliary facilities
    • Steel structure workshops

    In a statement, CNHMC said: “The signing of this contract marks a new stage in the company's market expansion in the African metallurgical sector.

    “CNHMC will fully leverage its technological and management advantages in the metallurgical field, strictly control the project's quality and schedule, and strive to complete and deliver the project on schedule with high quality and high standards, making it a benchmark project in the Algerian market.”

    The company said it will use its regional headquarters in Turkiye to ramp up its activities in the Algerian market and other neighbouring countries.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15139865/main3657.jpg
    Wil Crisp
  • Contractors submit Riyadh Expo infrastructure bids

    24 November 2025

     

    Register for MEED’s 14-day trial access 

    Saudi Arabia’s Expo 2030 Riyadh Company (ERC), which is tasked with delivering the Expo 2030 Riyadh venue, received commercial bids from contractors on 23 November for the tender to undertake the initial infrastructure works at the site.

    The tender for the project’s initial infrastructure works was issued in September, MEED previously reported.

    In October, MEED revealed that 16 firms had been invited to bid for the contract to undertake the initial infrastructure works at the Expo 2030 Riyadh site.

    The firms invited to bid include:

    • Shibh Al-Jazira Contracting (local)
    • Hassan Allam Construction (Egypt)
    • El-Seif Engineering Contracting (local)
    • Al-Ayuni Investment & Contracting (local)
    • Kolin Construction (Turkiye)
    • Al-Yamama Trading & Contracting Company (local)
    • Saudi Pan Kingdom (local)
    • Unimac (local)
    • Mapa Insaat (Turkiye)
    • Yuksel Insaat (Turkiye)
    • IC Ictas / Al-Rashid Trading & Contracting (Turkiye/local)
    • Mota-Engil / Albawani (Portugal/local)
    • Almabani / FCC Construction (local/Spain)

    The overall infrastructure works – covering the construction of the main utilities and civil works at Expo 2030 Riyadh – will be split into three packages:

    • Lot 1 covers the main utilities corridor
    • Lot 2 includes the northern cluster of the nature corridor
    • Lot 3 comprises the southern cluster of the nature corridor

    In July, US-based engineering firm Bechtel Corporation announced it had won the project management consultancy deal for the delivery of the Expo 2030 Riyadh masterplan construction works.

    The masterplan encompasses an area of 6 square kilometres, making it one of the largest sites designated for a World Expo event. Situated to the north of the Saudi capital, the site will be located near the future King Salman International airport, providing direct access to various landmarks within Riyadh.

    Countries participating in Expo 2030 Riyadh will have the option to construct permanent pavilions. This initiative is expected to create opportunities for business and investment growth in the region.

    The expo is forecast to attract more than 40 million visitors.

    The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth vehicle, launched ERC in June as a wholly owned subsidiary to build and operate facilities for Expo 2030.

    In a statement, the PIF said: “During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64bn to Saudi GDP and generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately $5.6bn to GDP.”

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15140538/main.jpg
    Yasir Iqbal
  • Chinese firm signs deal for 4GW Saudi solar project

    24 November 2025

    Chinese firm Arctech has announced a cooperation agreement with PowerChina Huadong Engineering for the 4.2GW Afif solar photovoltaic (PV) project in Saudi Arabia.

    The partnership will involve Arctech supplying its SkyLine 2 single-axis tracking system, designed to follow the sun in high-wind and desert environments.

    Located near Riyadh, the Afif solar complex forms part of the Public Investment Fund’s (PIF) 15GW renewables programme announced earlier this year.

    It comprises two independent power projects (IPPs): Afif 1 (1.8GW) and Afif 2 (2.4GW). PowerChina Huadong is the engineering, procurement and construction (EPC) contractor for both schemes.

    In October, a consortium of Acwa Power, Water & Electricity Holding Company (Badeel) and Saudi Aramco Power Company (Sapco) reached financial close on five solar IPPs under the PIF programme, including Afif 1 and Afif 2.

    The deals were signed at the ninth Future Investment Initiative (FII) conference in Riyadh.

    The five projects have a combined value of about $6.4bn and a total capacity of more than 12GW. They include the 3GW Bisha solar IPP, the 3GW Humaij solar IPP and the 2GW Khulis solar IPP.

    India’s Larsen & Toubro is the EPC contractor for the Bisha and Humaij solar projects.

    China Energy Engineering Corporation (CEEC) recently signed the EPC contract for the 2GW Khulis solar PV project. 

    The firm also signed EPC contracts for the two remaining projects in the renewables package, the 1GW Shaqra wind project and the 2GW Starah wind project, reaching $2.75bn in contracts across the three projects.

    All schemes under the 15GW PIF renewables package are scheduled to begin operating between the second half of 2027 and the first half of 2028.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15133404/main.jpg
    Mark Dowdall