meed-logo

line1 line2 line3
SIGN IN / REGISTER

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.

Related reads:
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. 

For more up-to-date information on the region’s largest projects, go to MEED Projects, which tracks trillions of dollars-worth of schemes.

MEED Projects is a subscriber-only service that provides comprehensive, up-to-date and accurate project information. It monitors industry and business development opportunities through market data tailored to your needs.

Be the first to know about new projects; we provide the data so you can win the business. If you would like to see a demo of MEED Projects, or just want to find out more, register your details online or call +971 (0) 4 818 0200.

https://image.digitalinsightresearch.in/uploads/NewsArticle/11310120/main.gif
Sneha Abraham

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Saudi water sector hits sharp slowdown

    8 September 2026

     

    Saudi Arabia’s water sector has recorded a sharp slowdown in contract awards this year, with $3.94bn of new contracts awarded as of early September.

    According to regional project tracker MEED Projects, this is well below the $10.7bn recorded in 2025, $13bn in 2024 and a record $15.3bn in 2023.

    The slowdown comes as several major projects remain in the procurement process, with some yet to reach financial close or contract award, while tender deadlines for other schemes have been pushed back.

    Among the largest is the estimated $2bn Riyadh-Qassim independent water transmission pipeline. The 859-kilometre project will have a transmission capacity of 685,000 cubic metres a day (cm/d). Vision Invest was selected as the preferred bidder last December; however, more than eight months later, an official developer’s agreement has not yet been signed.

    Similarly, the Arana and Hadda independent sewage treatment plant (ISTP) projects have yet to reach the financial close originally targeted for the second quarter. The two schemes will provide a combined treatment capacity of 350,000 cm/d.

    Delays extend further down the procurement pipeline. The latest developer bid deadline for the estimated $150m Riyadh East ISTP is 29 September, almost a year after the request for proposals (RFP) was issued in October 2025.

    Procurement for the main contracts for the Jubail-Buraidah and Ras Mohaisen-Baha-Mecca independent water transmission system projects could also slip into 2027, amid delivery-model changes by Water Transmission Company.

    New awards

    The market received a boost in September when Saudi Arabia’s National Water Company (NWC) announced it had signed a SR1.3bn ($347m) deal with a Saudi-Chinese consortium for package 10 of its long-term operations and maintenance programme.

    The consortium – comprising China’s Jiangsu United Water Technology and Saudi-based Armada Holding – will rehabilitate, operate and maintain nine sewage treatment plants (STPs) with a combined design capacity of more than 337,000 cm/d. Based on the latest procurement timeline, it is unclear whether the selected consortium for package 11 will be formally announced this year. Packages 12 and 14 remain under tender while package 16 is next in line, with its RFP not expected to be issued before November.

    NWC is the second-largest awarding entity by value in 2026, accounting for $1.09bn, or about 28% of the total. Saudi Aramco is the largest, with $2.15bn, meaning the two organisations account for more than 82% of awards so far this year.

    Aramco’s activity has been led by two major oil field developments. In June, it awarded the $1.5bn Safaniya onshore surface facilities project: package 1 to a joint venture of Tecnimont and Consolidated Contractors Company. The package includes a water treatment and injection plant supporting upstream production.

    It also awarded the second phase of its Zuluf water treatment project to a joint venture of Almar Water Solutions and AlJomaih Energy & Water. The project will add a 308,000-cm/d treatment facility at Tanajib in the Eastern Province, supplying water for injection at the offshore Zuluf oil field.

    The concentration of awards in industrial projects this year has been notable. Against the slowdown in municipal water infrastructure procurement, much of the value awarded so far has been linked to the water requirements of oil and gas and mining developments.

    The third-largest award is the $350m Taif Ar Rjum water pipeline project, being developed by Saudi Arabian Mining Company (Maaden) in Mecca. The project will support the Ar Rjum gold mining and processing facility and is being developed under a build-own-operate-transfer model. 

    By project type, treatment projects make up the largest share of awards, at $2.85bn or about 72% of the total. Transmission projects account for $980m and cooling projects for a further $110m, while no major desalination or water storage contracts have been awarded so far this year.

    Project pipeline

    The slowdown in awards appears to reflect the timing of projects moving through procurement rather than a fundamental weakening in demand for water infrastructure.

    Saudi Arabia continues to face rising demand for desalination, wastewater treatment and water transmission as population growth and industrial expansion drive demand for water.

    Sharakat, formerly Saudi Water Partnership Company, set out the next phase of the kingdom’s water investment programme in its latest seven-year statement, published in March.

    The plan points to a significant expansion in desalination capacity. Capacity from Sharakat-procured projects is expected to increase from about 3.88 million cm/d in 2025 to roughly 7.18 million cm/d by 2031.

    The increase will be supported by seven new independent water plants (IWPs) with a combined capacity of about 2.8 million cm/d, in addition to projects already operating, under construction or in procurement.

    However, several of the planned projects have yet to move into active procurement, while others have seen their expected timelines pushed back.

    Among the schemes affected are the Ras Al-Khair, Tabuk, Shuqaiq and Jizan IWPs, which have all progressed through prequalification, but have seen changes to their expected procurement schedules.

    The largest is phase two of the Ras Al-Khair IWP, a 600,000-cm/d reverse osmosis desalination plant that has been in development for more than a decade.

    The revised schedule indicates that the $400m Al-Shuqaiq 4 IWP is expected to be the first of the seven new plants to reach commercial operation. Its main contract had been expected to be tendered later this year, but it is now understood that the first RFP will not be issued until early 2027.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/19466739/main.gif
    Mark Dowdall
  • Kuwait grants loan for GCC grid extension study

    8 September 2026

    The Kuwait Fund for Arab Economic Development has signed a KD200,000 ($647,000) grant agreement with the GCC Interconnection Authority (GCCIA) to finance a feasibility study on extending the Gulf power grid to electricity networks outside the GCC.

    The agreement was signed on 3 September by Ahmed Bin Ali Al-Ibrahim, CEO of the GCCIA, and Kuwait Fund acting director general Rashid Al-Bader.

    The study will assess opportunities to expand the GCC power interconnection system to neighbouring countries. It will examine their electricity requirements and the technical and economic feasibility of connecting their national grids to the Gulf network.

    The Kuwait Fund did not identify the countries or potential interconnection routes. However, it is understood that the study will identify potential phases for future expansion, determine priority projects and assess the most appropriate interconnection options based on technical and economic criteria.

    It will cover the proposed project’s main components, costs, implementation arrangements and expected timeframe. The study will also assess the potential economic and social benefits for GCC member states and connected countries, as well as how the GCC network would operate alongside neighbouring national grids.

    A preliminary assessment of the project’s potential environmental and social impacts will also be carried out, together with proposed mitigation measures.

    The Kuwait Fund has previously provided three loans worth a combined KD78m ($252m) to GCCIA to support expansion of the GCC power interconnection system and its connection to southern Iraq’s electricity grid.

    In August 2025, the fund announced two loans worth KD70m ($224m) for the expansion of the Gulf Power Interconnection Project. The financing included support for the Al-Wafra 400kV substation and infrastructure connecting Kuwait’s grid with Iraq. 

    The Al-Wafra substation facilitates electricity exchanges and enables Kuwait to access surplus power available through the GCC interconnection system.

    READ THE SEPTEMBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19461053/main.jpg
    Mark Dowdall
  • Chinese firm to set up $300m anode facility in the UAE

    8 September 2026

    Beijing-headquartered Sunstone Development has signed a memorandum of understanding (MoU) with the UAE Ministry of Investment to develop an anode production facility in the UAE, with an estimated investment of about $300m.

    The MoU follows Sunstone’s December 2025 joint-venture agreement with Emirates Global Aluminium (EGA) to build the project.

    Upon completion, the plant is expected to replace most of EGA’s current anode imports and support the UAE’s ambition to become one of a limited number of global anode-exporting countries, aligning with the Make It In The Emirates initiative and Operation 300bn.

    The ministry said the agreement reflects its role in helping strategic investors navigate the UAE’s investment ecosystem and convert commitments into long-term operations, in line with the National Investment Strategy 2031.

    By localising a key stage in the aluminium value chain, the facility will reduce reliance on imported anodes, enhance the competitiveness of the UAE aluminium sector and support wider economic diversification.

    The Ministry of Investment and Sunstone will establish a joint working group, chaired by the ministry, to oversee project delivery.

    The project is expected to create skilled employment opportunities for UAE nationals and residents, while strengthening domestic manufacturing capacity and industrial capabilities.

    READ THE SEPTEMBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19461120/main.jpg
    Yasir Iqbal
  • Riyadh tenders Expo 2030 Souq areas package

    8 September 2026

     

    Expo 2030 Riyadh Company (ERC), responsible for delivering the Expo 2030 Riyadh venue, has tendered a contract to deliver the Souq areas within the Expo site.

    The tender was floated on 30 July, with a submission deadline of 9 October.

    The Souq areas are divided into five distinct precincts, with a total development area of about 300,000 square metres (sq m).

    The scope includes the five precincts and their associated vertical elements, infrastructure and public realm works. 

    The precincts comprise:

    • Precinct 1 – The Icon: 41,417 sq m
    • Precinct 2 – Place & Planet: 62,306 sq m 
    • Precinct 3 – Culture of Wisdom: 67,112 sq m  
    • Precinct 4 – Kingdom of Saudi Arabia: 45,967 sq m  
    • Precinct 5 – Adaptation & Innovation: 82,358 sq m

    The package will interface with three public parks. It will also tie into the Natural Corridor, including bridges.

    The Souq areas will form a mixed-use destination at the centre of Expo 2030 Riyadh, providing a central connection between the site’s iconic and thematic assets.

    The development will include rented and partnership pavilions, alongside a range of food and beverage, retail and visitor-experience offerings.

    Site progress

    Construction activity at the Expo site is accelerating, with Riyadh moving to award its first major vertical contracts and advancing infrastructure works across the programme.

    Earlier this month, Saudi Arabia’s Royal Commission for Riyadh City (RCRC) awarded a design-and-build contract for the construction of a new metro station catering to the Expo 2030 site.

    In April, ERC awarded two contracts for the next phase of infrastructure works at the site to local firm Alyamama Company.

    The scope covered the construction of road networks and infrastructure for water, sewage, electricity, telecommunications and electric vehicle charging.

    These awards followed ERC’s January award of an estimated SR1bn ($267m) contract for initial infrastructure works at the site to local firm Nesma & Partners.

    That scope covered about 50 kilometres of integrated infrastructure networks, including internal roads and essential utilities such as water, sewage, electrical and communications systems, and electric vehicle charging stations.

    The masterplan covers 6 square kilometres, making it one of the largest sites ever 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 and will provide direct access to landmarks within Riyadh.

    The Public Investment Fund, Saudi Arabia’s sovereign wealth vehicle, launched ERC – a wholly owned subsidiary – in June 2025 to build and operate facilities for Expo 2030.

    READ THE SEPTEMBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19457171/main.jpg
    Yasir Iqbal
  • Powering the next chapter with nuclear energy

    8 September 2026

    Commentary
    Colin Foreman
    Editor

    Nuclear energy is increasingly being viewed as essential around the world. It offers a non-CO2-emitting, steady baseload at a time when governments have made net-zero commitments. 

    In the Gulf, the UAE has spent the past 15 years building the Middle East’s first commercial nuclear plant, now supplying about a quarter of the country’s electricity. What is new is the breadth of ambition beyond Abu Dhabi. The civil nuclear cooperation deal signed between Saudi Arabia and the US in July is the most significant step in the kingdom’s nuclear programme for several years, and it lands as the region moves decisively towards atomic power.

    The logic is clear. Electricity demand from industry, desalination and digital infrastructure is climbing, and governments want reliable low-carbon supply to meet it. Saudi Arabia is targeting up to 17GW of nuclear capacity by 2040. Its first plant at Khor Duwaiheen, comprising two 1.4GW reactors, represents only about a sixth of that goal, which points to a programme rather than a one-off.

    What is new is the breadth of ambition beyond Abu Dhabi

    The opportunity extends well beyond reactors. The UAE’s nuclear programme shows the scale of the economic impact. More than 2,000 local firms secured contracts worth over $6.7bn supporting construction, operations and maintenance. 

    Saudi Arabia’s ambitions reach further still, into small modular reactors, domestic uranium and elements of the fuel cycle. At the same time, Bahrain is studying a modular plant to power its industrial base, and Egypt’s 4.8GW El-Dabaa project is already under construction, with first generation expected in 2028.

    For contractors, engineers and financiers, this is the beginning of a projects market that will unfold over decades. The reactor awards will grab the headlines, but the supporting ecosystem, from regulation and fuel supply to workforce development, is where much of the value lies.

    READ THE SEPTEMBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19461185/main.gif
    Colin Foreman