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
  • Sports Boulevard tenders Wadi Hanifa road works

    23 April 2026

     

    Register for MEED’s 14-day trial access 

    Saudi Arabia’s Sports Boulevard Foundation has issued a tender inviting firms to bid for a contract to build a road and associated infrastructure in the Wadi Hanifa area of Riyadh.

    The bid submission deadline is 27 April.

    The scope includes construction of an 11.4-kilometre road and associated infrastructure, including public realm works, utilities and security systems.

    The scheme is the latest package to progress on Riyadh’s Sports Boulevard project.

    The Sports Boulevard Foundation is also evaluating bids for its Global Sports Tower in the development’s Athletics District.

    The 130-metre-tall Global Sports Tower will have a gross floor area of 84,000 square metres (sq m) and will include more than 30 sports facilities. The tower will feature what is billed as the world’s tallest indoor climbing wall, at 98 metres, and a 250-metre running track.

    Sports Boulevard will run across Riyadh from east to west. Once complete, it is intended to be the world’s longest park, stretching more than 135 kilometres.

    The project is divided into multiple districts, including the Wadi Hanifah, Arts, Urban Wadi, Entertainment, Athletics and Eco districts, as well as Sands Sports Park.

    The large-scale development aims to transform central Riyadh – currently dominated by major highways – into a recreational corridor.

    Sports Boulevard will include 4.4 million sq m of public realm and landmark buildings. Along with the Global Sports Tower, there will be a Centre for Cinematic Arts and a 2,000-seat amphitheatre.

    It will also deliver more than 2.3 million sq m of mixed-use commercial, residential and retail space, alongside sports facilities, around the park, known as the Linear Park.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16534345/main.jpg
    Yasir Iqbal
  • Masdar to develop renewables projects in Montenegro

    23 April 2026

    Abu Dhabi Future Energy Company (Masdar) and Elektroprivreda Crne Gore (EPCG) have agreed to establish a 50:50 joint venture to develop and operate renewable energy projects in Montenegro.

    The planned projects include solar photovoltaic (PV), wind, hydropower, pumped-hydro storage and battery energy storage systems.

    The joint venture will be headquartered in Niksic in western Montenegro and is intended to support Montenegro’s domestic energy needs while also enabling the export of renewable electricity to the Western Balkans and Southern Europe, Masdar said in a statement.

    The companies plan to leverage an existing sub-sea interconnection with Italy. Montenegro is connected to Italy via a 600MW HVDC submarine cable, enabling electricity exports to the Italian market.

    Masdar has an existing presence in Montenegro through its investment in the 72MW Krnovo wind farm.

    The developer has recently accelerated foreign investment plans as part of its broader expansion. In April, it signed a binding agreement with France’s TotalEnergies to establish a $2.2bn joint venture to develop, build and operate renewable energy projects across Asia.

    The combined business will have 3GW of operational capacity and 6GW of projects in advanced development, targeted for commissioning by 2030.

    Masdar is targeting a global renewable energy portfolio of 100GW by 2030. It recently reached 65GW, two-thirds of the way to that target.

    The company plans to deploy an additional $30bn-$35bn in equity and project finance by 2030, adding an average of 10GW of new capacity each year.

    This expansion will be funded through a mix of equity, green bonds and long-term project financing.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16534112/main.jpg
    Mark Dowdall
  • Qiddiya sets new deadline for infrastructure package

    23 April 2026

     

    Saudi gigaproject developer Qiddiya Investment Company (QIC) has set a 13 May deadline for bids for a contract covering new infrastructure works at Qiddiya Entertainment City.

    The scope comprises two infrastructure development packages for District 0 of Qiddiya Entertainment City, including the construction of four event park-and-ride facilities.

    The tender was issued on 11 March, with an initial bid submission deadline of 22 April.

    Lebanese firm Dar Al-Handasah and Saudi-based Sets International are serving as project consultants.

    QIC is accelerating plans to develop additional assets at Qiddiya City. Earlier this month, the company received prequalification statements from firms for the engineering, procurement, construction and finance package for the Qiddiya high-speed rail project.

    MEED has also reported that QIC received bids from contractors on 23 February for a SR980m ($261m) contract covering the construction of staff accommodation at Qiddiya Entertainment City.

    The project will cover an area of more than 105,000 square metres (sq m).

    Also in February, QIC started the main construction works on its performing arts centre at the entertainment hub.

    The Qiddiya City performing arts centre is one of several major projects within the greater Qiddiya development. Other projects include an e-games arena, Prince Mohammed Bin Salman Stadium, a motorsports track, the Dragon Ball and Six Flags theme parks, and Aquarabia.

    QIC officially opened the Six Flags theme park to the public in December last year.

    The park covers 320,000 sq m and features 28 rides and attractions, including 10 thrill rides and 18 aimed at families and young children.

    The Qiddiya project is a key part of Riyadh’s strategy to boost leisure tourism in the kingdom. According to UK analytics firm GlobalData, leisure tourism in Saudi Arabia has experienced significant growth in recent years.

    Saudi Arabia’s tourism sector posted record figures last year, with more than 130 million domestic and international visitors – a 6% increase on 2024.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16533776/main.jpg
    Yasir Iqbal
  • Detailed design progressing for major Iraqi oil project

    23 April 2026

     

    Detailed design work is progressing on Iraq’s 950-kilometre seawater pipeline network under the Common Seawater Supply Project (CSSP), according to industry sources.

    They added that on-site construction would begin only after the detailed design is complete.

    Iraq’s state-owned Basra Oil Company (BOC) and China Petroleum Pipeline Engineering (CPP) signed a $2.5bn contract for the pipeline package in September last year.

    The project is being supervised by Austria’s ILF Consulting Engineers.

    The pipeline package is one of two main CSSP packages.

    The second focuses on a seawater treatment facility, expected to have a capacity of 5 million barrels a day (b/d), potentially rising to 7-8 million b/d in later phases.

    Processed water will be injected into some of Iraq’s largest oil fields – Rumaila, Zubair, West Qurna 1, West Qurna 2 and Majnoon – and also used in the Maysan and Dhi Qar fields.

    Iraq’s Oil Ministry said the injected water will help maintain reservoir pressure and sustain crude production.

    CPP is a subsidiary of state-owned China National Petroleum Corporation.

    TotalEnergies is responsible for the CSSP as part of the larger $27bn Gas Growth Integrated Project.

    Iraq approved a $2.45bn contract with South Korea’s Hyundai Engineering & Construction (Hyundai E&C) in August last year for the engineering, procurement and construction of the seawater treatment plant.

    Over recent weeks, Iraq’s oil exports have collapsed by about 80% due to fallout from the US and Israel’s war with Iran.

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

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16527404/main.jpg
    Wil Crisp
  • Libya brings gas pipeline online

    23 April 2026

    Libya’s state-owned National Oil Corporation (NOC) has brought a gas pipeline online that will allow it to reduce flaring and increase production, according to a statement issued by the company.

    The 42-inch pipeline, which connects the Al-Intisar field and the Brega gas distribution system, has entered the “experimental operation” stage, according to NOC.

    This follows the completion of connection works.

    The pipeline is expected to allow the collection of 150 million standard cubic feet a day of gas, which was previously flared at the oil and gas field.

    The pipeline is expected to debottleneck hydrocarbon flows at the oil and gas field and increase production levels.

    Prior to the pipeline recently being brought online, completion of the project had stalled for 16 years.

    Stakeholders are expecting a surge in oil and gas project activity in Libya after the country’s rival legislative bodies recently approved a unified state budget for the first time in more than 13 years.

    The Central Bank of Libya confirmed on 11 April that both chambers had endorsed the budget, saying that it was a key step towards restoring financial stability after prolonged division.

    The budget is valued at LD190bn ($29.95bn), and LD12bn ($1.9bn) has been allocated to the NOC.

    An additional LD40bn ($6.3bn) has been allocated for “development projects”.

    Libya has stated that a joint committee has been formed to help prioritise development projects, and the projects have been listed in the budget.

    The development comes at a time when Libya’s oil and gas sector could be positioned to make windfall revenues as oil and gas prices remain high due to fallout from the US and Israel’s war with Iran.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16527327/main.jpg
    Wil Crisp