Region records record monthly contract awards
22 November 2023

In October, the Middle East and North Africa recorded the largest-ever monthly value of contract awards since MEED began analysing regional contract awards in January 2014.
The $37bn of deals signed were driven by multibillion-dollar awards by regional heavyweights Saudi Arabia and the UAE, and followed on from the $25bn of awards in September – the second-largest monthly awards value so far in 2023.
UAE
The UAE recorded $21bn of deals signed, spurred by two contract awards by Abu Dhabi National Oil Company (Adnoc) worth a total of $16.9bn in the gas sector. The engineering, procurement and construction (EPC) contracts were awarded for work on the Hail and Ghasha offshore sour gas field development project.
An $8.2bn deal was signed with a consortium of Abu Dhabi’s NMDC Energy, formerly National Petroleum Construction Company, and Italian contractor Saipem for the offshore EPC package. The scope of work broadly involves EPC of offshore facilities, including facilities on artificial islands and subsea pipelines.
Meanwhile, Italy-headquartered Tecnimont was awarded the $8.7bn onshore EPC contract. This involves the EPC of onshore facilities including carbon dioxide (CO2) and sulphur recovery and handling.
Other sectors are also poised for project activity in the coming years. MEED reports that the prospects for the rest of this year are promising for the UAE’s construction sector, with nearly $8bn of contracts at the bid evaluation stage and another $2bn at the main contract bid and prequalification stages.
The UAE’s aviation sector is also set for growth, with plans being considered to restart the AED120bn ($33bn) expansion of Dubai’s Al-Maktoum International airport.
An expansion of Sharjah International airport is planned to increase its capacity from eight to 20 million passengers a year. Sharjah Civil Aviation Authority is expected to award the estimated AED2.5bn main construction works package by the end of this year.
Saudi Arabia
Saudi Arabia awarded the second-largest value of deals in October, with $13bn of awards. Saudi Power Procurement Company (SPPC) signed four deals, each worth $1.56bn, for the Qassim and Taiba independent power producer (IPP) projects.
China’s Sepco 3 will undertake the EPC contract for the 1,800MW Qassim 1 IPP and 1,800MW Taiba 1 IPP projects. The firm partnered with a team of Saudi Electricity Company (SEC) and Acwa Power, which won the contracts to develop the two IPP contracts.
A team comprising the local Al-Jomaih Energy & Water, France’s EDF and the local Buhur for Investment won the contract to develop the 1,800MW Taiba 2 IPP and 1,800MW Qassim 2 IPP schemes.
Each project will be developed on a build-own-operate (BOO) basis and will be 100 per cent owned by the successful bidders.
Download the Middle East contracts awarded for October 2023 |
It is also confirmed that the kingdom is the sole bidder to host football’s 2034 World Cup, which will give the projects market a long-term pipeline of work.
In addition, more firms have approached Jeddah Economic Company to take part in the tender for the contract to complete the world’s tallest tower, the 1,000-metre-plus-tall Jeddah Tower project in Saudi Arabia.
Egypt
In October, Egypt recorded $776m of deals signed, the biggest being a $640m contract awarded by the National Authority for Tunnels (NAT) to the local Orascom Construction for the civil works for the Cairo Metro line four package CP402.
Kuwait
Kuwait awarded $714m of deals in October, led by a $540m contract awarded by Kuwait Oil Company (KOC) for constructing crude debottlenecking facilities for the SGC Metering 2 project for East Kuwait area two.
Meanwhile, MEED reports that Kuwait’s Central Agency for Public Tenders (Capt) is preparing to tender five projects for KOC, which could have a total value of $3.5bn, according to industry sources.
Oman
Oman recorded $513m of deals signed in October, with the largest a $310m contract let by the Ministry of Culture, Sports & Youth to a joint venture of the local Saif Salim Issa al-Harrasi and Turkish Sembol Construction for the design-and-build of its cultural complex. The complex comprises three buildings located next to the Ministry of Labour to the south of the Sultan Qaboos Highway and opposite the Muscat International airport development.
Iraq
Iraq awarded $494m of contracts in October, with the biggest a $448m deal signed by the Ministry of Energy with the local Socar for the second phase of the 750MW Nassiriyah gas-fired power plant.
Meanwhile, MEED reports that the procurement process is understood to be under way for projects to convert solid waste to energy in Baghdad. According to local media reports, some 42 companies have expressed an interest or have been prequalified to bid for the contracts.
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Qatar
Qatar recorded two awards worth a total of $154m in October, both let by the Public Works Authority (Ashghal) to the local Generic Engineering Technologies & Contracting for work at the Lusail Formula 1 and MotoGP race circuit.
Several companies are preparing to bid for the contract to develop Qatar’s Facility E independent water and power producer (IWPP) project. General Electricity & Water Corporation (Kahramaa) expects to receive proposals for the contract by 14 December.
Bahrain
Bahrain saw $98m of deals signed in October, the biggest of which was a $60m contract awarded by the Electricity & Water Authority (EWA) to South Korea’s Taihan Electric Wire Company for cable works at the 400kV Jasra Grid substation.
Tunisia
Tunisia awarded $97m of deals in October. The largest was a $72m contract that Tunisia National Water Distribution Utility (Sonede) awarded to India’s Wabag for the Bejaoua water treatment plant.
Tunisia is also moving ahead with green hydrogen plans, with Germany’s Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) awarding a contract for a detailed pre-feasibility study of the country’s green hydrogen and derivatives initiative.
Jordan
Jordan rounds off the list of countries to record contract awards in October, with $64m of deals signed. The biggest was a $40m contract signed by the Jordan Valley Authority and the Ministry of Water & Irrigation to expand pumped capacity from the King Abdullah Canal to the Wadi al-Arab dam.
Green hydrogen plans are also progressing in the country. MEED reports that a consortium of Ireland’s Amarenco and Switzerland-based H2 Global Energy has signed an agreement with the Ministry of Energy & Mineral Resources (MEMR) to develop a green hydrogen and ammonia production facility.
Jordan has also secured a $53m grant for the Aqaba-Amman water desalination and conveyance (AAWDC) project, the tender closing date for which has been extended to 4 December.
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Developers prepare bids for 1GW Oman bess scheme12 October 2026

Developers are preparing to submit bids for almost 1GW of standalone battery energy storage (bess) projects in Oman, a source close to the project has confirmed to MEED.
The independent power producer (IPP) scheme includes the installation of five bess facilities with a combined power capacity of 950MW and storage capacity of 3,800MWh. Nama Power & Water Procurement Company (PWP) is procuring it.
According to sources close to the project, a developer’s tender was floated in the summer. An initial bid submission deadline has since been extended, with bids expected to be submitted in the coming weeks.
The largest project is a 500MW facility in Sohar, Al-Batinah North governorate, with a storage capacity of 2,000MWh. The Sohar facility is expected to connect to the grid at 220kV. The site covers approximately 149,535 square metres.
Four further installations are planned at Al-Mabellah in Muscat governorate, Ayjah in South Al-Sharqiyah, the Jalan Bani Bu Ali wind farm site in South Al-Sharqiyah, and Sadah in Dhofar.
The Al-Mabellah and Ayjah facilities are each planned to have a capacity of 100MW and storage capacity of 400MWh. Both are expected to connect to the grid at 132kV.
The Jalan Bani Bu Ali installation is planned to have a capacity of 150MW and storage capacity of 600MWh. It is expected to connect to the Sadah wind farm and Jalan Bani Bu Ali wind farm substations.
The Sadah installation is planned to have a capacity of 100MW and storage capacity of 400MWh. It is expected to connect to the Sadah wind farm substations at 132kV.
US/India-based Synergy Consulting is the financial adviser for the procurement; Germany’s Fichtner is the technical adviser; and Germany-headquartered CMS is the legal adviser.
Utility-scale storage
In May, Oman’s Authority for Public Services Regulation (APSR) opened technical bids for a consultancy contract supporting a planned 1,000MW/four-hour bess project.
As previously reported, APSR issued the request for proposals in April as part of wider plans to increase the share of renewable energy in the sultanate.
The sultanate’s first utility-scale solar photovoltaic (PV) plant integrated with battery energy storage (Ibri 3) entered construction at the beginning of the year, comprising a 500MW solar PV plant and a 100MWh bess system.
Also in May, state offtaker Nama Power & Water Procurement Company signed a power purchase agreement with local firm O-Green for Oman’s first round-the-clock renewable energy project.
Renewable energy is expected to increase from 4% of the generation mix in 2024 to 30% by 2030, driving the push for more utility-scale storage projects.
Over roughly the same period, demand is forecast to double, reaching 10 terawatt-hours by 2031.
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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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Houthi escalation targets Saudi airports12 October 2026
Yemen’s Houthis have placed Saudi Arabia’s civil aviation infrastructure at the centre of their campaign against the kingdom. Two strikes on King Khalid International airport in Riyadh over the weekend killed 13 people and injured 320.
The deadlier attack hit a passenger terminal on the afternoon of 10 October. The General Authority of Civil Aviation (Gaca) said it killed 12 people, including four Saudi citizens, and injured 309. Airport operations were suspended pending a damage assessment.
A second strike hit Terminal 4 on the afternoon of 11 October, sparking a fire that killed a Pakistani resident and injured 11 others, according to Gaca. The Saudi-led coalition reported intercepting a cruise missile near the airport that afternoon. Gaca also reported an attack on King Fahd International airport in Dammam that evening, following a coalition report of a projectile falling near the facility the previous night.
The weekend strikes followed attacks on Abha International airport on 6 October and on King Khalid International airport on 7 and 8 October, the last of which included a strike on a Saudia aircraft. Gaca figures put the toll from the week’s attacks on Saudi airports at 19 dead and more than 350 injured.
The Houthis said they would continue operations inside the kingdom and that all Saudi airports were potential targets, with the exception of those serving the holy cities. The group says it is acting in response to Riyadh’s support for Yemeni government forces and a Saudi air strike on Sanaa airport. It has also claimed attacks on Saudi oil facilities, which Saudi authorities have not confirmed.
Aviation exposure
The attacks strike a sector central to the kingdom’s diversification plans. King Khalid International airport’s existing terminals are to be absorbed into King Salman International airport (KSIA), a 57-square-kilometre development with six parallel runways targeting a capacity of 120 million passengers by 2030 and 185 million by 2050.
Procurement on KSIA has gathered pace this year. In July, a joint venture of China Civil Engineering Construction Corporation and Dammam-based Mofarreh AlHarbi & Partners won an estimated SR800m ($213m) contract for enabling and substructure works on Terminal 6, which will add capacity for 40 million passengers. Turkish contractor IC Ictas and Saudi Arabia’s Al-Rashid Trading & Contracting recently secured a SR800m ($213m) contract for the airport’s Private Aviation Terminal.
Government-owned Saudi Royal Aviation set 8 October as the bid deadline for an estimated SR3bn ($800m) contract to build an aviation complex within the KSIA masterplan, the same day the Houthis struck King Khalid International airport and a Saudia aircraft.
Airlines have already adjusted. Flydubai cancelled flights to Riyadh and Yanbu up to 10 October and to Abha up to 11 October, and Etihad Airways reported extended delays on its Abu Dhabi to Riyadh service after the airport closed on 8 October. The UK Foreign Office has advised against all travel to areas within 10km of the Yemeni border.
Market reaction
The Saudi stock market’s response has been muted so far. The Tadawul main index fell 15.54 points to close at 10,360.74 on 11 October, the first trading session after the Saturday attack, with turnover of SR2.6bn ($693m). The session closed before the second strike on King Khalid International airport and the attack on Dammam, and Monday’s trading will be the first to reflect the full weekend.
The weekend also brought a separate maritime incident. UK Maritime Trade Operations said an oil tanker was struck by an unidentified projectile in the Strait of Hormuz on 11 October, with its crew reported safe.
Diplomatic response
The coalition described the 10 October attack as a war crime and said it would respond decisively. It said on 10 October that it had destroyed 136 military targets in Houthi-controlled areas and was working to dismantle the group’s ballistic missile network.
Egypt, Pakistan and Turkiye joined Saudi Arabia in an R4 group statement condemning the attacks and supporting measures taken by the kingdom in response. The Arab League also voiced its support for Saudi Arabia. On 11 October, Iran’s foreign minister spoke by telephone with his Saudi counterpart, Prince Faisal Bin Farhan, to discuss the escalation. The US and UK have also signalled the possibility of further support for the kingdom.
The escalation comes against the backdrop of the regional conflict, which has drawn Saudi Arabia into a renewed Yemen front after several years of relative calm following the 2022 ceasefire. The extent of the damage at King Khalid International airport, which Gaca is still assessing, and the speed at which international carriers resume full schedules will determine how far the attacks disrupt the kingdom’s aviation programme.
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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.
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> COMMENT: Iraq’s reform window narrows
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> 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