Steel projects go green
6 August 2024
Commentary
Colin Foreman
Editor
Read the August 2024 issue of MEED Business Review
The statistics are not good for the steel industry’s environmental performance. The industry accounts for 7-9% of global carbon emissions, and improving its green credentials requires billions of dollars of investment in new technologies and energy sources.
Unlike other regions, the Gulf is well-placed to lead these efforts. As a relative newcomer to the steel industry, producers mostly operate newer plants that emit less carbon dioxide.
Expansion is also on the agenda. Industrial development is a key priority for governments across the region as they seek to diversify away from hydrocarbons and create investment and employment opportunities. For example, in the UAE, the government launched Operation 300bn in 2021, which aims to raise the industrial sector’s contribution to the national GDP to AED300bn ($81.7bn) by 2031.
As the industrial base expands and steel producers increase capacity to meet growing demand, they can invest in even newer equipment and clean energy sources. This is evidenced by projects planned for Saudi Arabia, the UAE and Oman that will use the latest technologies and, in some cases, explore the use of alternative energy sources.
Investing in green steel will allow the Gulf to position itself as an exporter to a global customer base that is increasingly aware of its net-zero commitments.
Domestically, green steel will help the Gulf achieve its development goals more sustainably. It was a record year for contract awards on the region’s projects in 2023 and all but a few exceptions will require significant volumes of steel.
Projects are turning to regional producers for low-carbon steel. In July, UAE-based steel producer Emirates Steel announced a steel supply agreement for the Trojena Ski Village project in Saudi Arabia. The producer will supply beams made of low-carbon steel.
As more projects move into construction and steel producers continue with their investments, the region can expect more of these deals in the future.
Must-read sections in the August 2024 issue of MEED Business Review include:
> AGENDA: Gulf charts green steel pathway; Steel takes on decarbonisation
> CURRENT AFFAIRS: Iranian election delivers reformist victory
|
INDUSTRY REPORT: |
> INTERVIEW: Wood seeks to improve grip on Gulf market
> LEADERSHIP: Sandboxes spur innovation in the Middle East
> RIYADH REGION MUNICIPALITY: Transforming Riyadh into a world-class city
> MAGHREB MARKET REPORT:
> POLITICS: Maghreb region grapples with governance
> ECONOMY: Olive oil and renewables offer respite
> INVESTMENT: Morocco garners increased foreign investment
> ALGERIA OIL SECTOR: Chevron deal raises Algerian oil and gas hopes
> LIBYA OIL SECTOR: Libya struggles to stabilise energy sector
> MOROCCO OIL SECTOR: Oil and gas companies press on in Morocco
> HYDROGEN: Maghreb eyes hydrogen breakthrough
> POWER: Algeria jumpstarts its renewables programme
> RAIL: Maghreb rail sector heads for boom
> CONSTRUCTION: Maghreb construction sector brightens
> MAGHREB DATABANK: Maghreb markets improve metrics
> MEED COMMENTS:
> Saudi projects move to reflect World Cup focus
> Doha steps up drive to foster demand for projects
> PIF hydrogen move changes game
> Aramco gives shape to massive gas portfolio
> GULF PROJECTS INDEX: Iraq drives Gulf projects market growth
> JUNE 2024 CONTRACTS: Saudi Arabia contributes almost half of regional total
> ECONOMIC DATA: Data drives regional projects
> OPINION: The death of political risk
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
Exclusive from Meed
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WEBINAR: UAE Projects Market 202615 April 2026
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Saudi Landbridge finds its moment in Gulf turmoil15 April 2026
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Indian firm selected for Saudi sewage treatment project15 April 2026
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SAR extends phosphate rail track deadline15 April 2026
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Algeria opens bidding for water treatment plant15 April 2026

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In 2023, MEED reported that Riyadh-based water utility developer Wetico had won two contracts to develop water desalination plants in Algeria.
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WEBINAR: UAE Projects Market 202615 April 2026
Webinar: UAE Projects Market 2026
Tuesday, 28 April 2026 | 11:00 GST | Register now
Agenda:
- Overview of the UAE projects market landscape
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Colin Foreman is editor and a specialist construction journalist for news and analysis on MEED.com and the MEED Business Review magazine. He has been reporting on the region since 2003, specialising in the construction sector and its impact on the broader economy. He has reported exclusively on a wide range of projects across the region including Dubai Metro, the Burj Khalifa, Jeddah Airport, Doha Metro, Hamad International airport and Yas Island. Before joining MEED, Colin reported on the construction sector in Hong Kong.https://image.digitalinsightresearch.in/uploads/NewsArticle/16401868/main.gif -
Saudi Landbridge finds its moment in Gulf turmoil15 April 2026
Commentary
Yasir Iqbal
Construction writerThe strategic case for the Saudi Landbridge has never been more urgent. SAR’s appointment of Spain’s Typsa as lead design consultant, reported by MEED this week, is more than a procurement milestone. After two decades of delays, it reflects how the long-deferred project has become a strategic necessity.
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MEED’s April 2026 report on Saudi Arabia includes:
> COMMENT: Risk accelerates Saudi spending shift
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> BANKING: Testing times for Saudi banks
> UPSTREAM: Offshore oil and gas projects to dominate Aramco capex in 2026
> DOWNSTREAM: Saudi downstream projects market enters lean period
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> CONSTRUCTION: Saudi construction enters a period of strategic readjustment
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Indian firm selected for Saudi sewage treatment project15 April 2026

Saudi Arabia’s National Water Company is understood to have recently selected Indian contractor VA Tech Wabag as its preferred bidder for a contract to expand a sewage treatment plant (STP) in Al-Majmaah in Riyadh Province.
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SAR extends phosphate rail track deadline15 April 2026

Saudi Arabian Railways (SAR) has extended the bid submission deadline to 26 April for a multibillion-riyal tender to double the tracks on the existing phosphate transport railway network connecting the Waad Al-Shamal mines to Ras Al-Khair in the kingdom’s Eastern Province.
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The new tender follows SAR receiving bids from contractors on 1 February for the project’s first phase, which spans about 100km from the AZ1/Nariyah Yard to Ras Al-Khair.
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