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  • Saudi Downtown awards Al-Khobar substation contract Administrator

    23 July 2026

    Saudi Downtown Company (SDC), a wholly owned subsidiary of sovereign wealth vehicle the Public Investment Fund (PIF), has awarded the local Al-Ojaimi Contracting a contract to design and construct a primary electrical substation for its Downtown Al-Khobar project.

    It is understood that the facility will be the main electricity supply point for the wider development. The scope also includes the design and implementation of the associated electrical infrastructure.

    SDC was launched in 2022 by Saudi Crown Prince and Prime Minister Mohammed Bin Salman Bin Abdulaziz Al-Saud, who also serves as chairman of the PIF.

    The company is developing downtown districts in 12 cities in Saudi Arabia: Al-Khobar, Medina, Al-Ahsa, Buraidah, Najran, Jizan, Hail, Al-Baha, Arar, Taif, Dumat Al-Jandal and Tabuk.

    Earlier in July, MEED reported that SDC had awarded a contract for infrastructure works in downtown Al-Khobar to Saudi-based contractor Ansab General Contracting Company. The deal covers the design and development of the project's infrastructure, road networks and street lighting.

    SDC's mandate is to develop more than 10 million square metres (sq m) of land across its projects, supporting the objectives of Saudi Vision 2030.

    The Al-Khobar project covers approximately 829,103 sq m of land and is designed as a mixed-use hub offering residential units, retail spaces, entertainment, hospitality and integrated public amenities.

    Local firm Omrania & Associates was recently appointed as the main consultant on the project.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17732450/main.jpg
    Mark Dowdall
  • Abu Dhabi launches Marsa Al-Saadiyat residential project Administrator

    23 July 2026

    Abu Dhabi has launched Marsa Al-Saadiyat, a new waterfront development covering 6.4 million square metres (sq m), representing the final phase of the wider Saadiyat Island masterplan.

    Local real estate company Aldar has been appointed as master developer, with responsibility for the overall design and delivery of primary infrastructure.

    The development will cover about 8 kilometres (km) of waterfront, including 5.6km of beaches.

    Once complete, it will comprise a mix of homes, hotels, schools, cultural assets, parks and commercial components, and is planned to accommodate more than 58,000 residents.

    The residential offering will include private mansions, luxury villas, waterfront apartments and branded residences.

    Plans also include a hillside neighbourhood of standalone villas, rising to 22.5 metres, designed to capitalise on the surrounding topography and views.

    Marsa Al-Saadiyat will be linked to Umm Yifeenah Island and Reem Island via a new network of roads and tunnels, and will also include an underground station for Etihad Rail’s planned high-speed passenger service.

    A dedicated theatre district will be anchored by Dar Al-Funoon, a performing arts venue with capacity for more than 6,000 guests. 

    Upon completion, it will become one of the region’s largest performing arts venues.

    The venue is scheduled to open in 2030.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17731759/main.jpg
    Yasir Iqbal
  • Saudi Arabia and US sign nuclear energy agreement Administrator

    23 July 2026

    Saudi Arabia and the US have signed an agreement for cooperation on the peaceful use of nuclear energy.

    The agreement was signed in Riyadh on 22 July by Saudi Energy Minister and Industry & Mineral Resources Minister Prince Abdulaziz Bin Salman and US Energy Secretary Chris Wright.

    The agreement “aims to enhance cooperation between the two countries in the peaceful uses of nuclear energy and to facilitate the exchange of expertise, knowledge and technologies, contributing to strengthening bilateral cooperation in accordance with the highest international standards of nuclear safety, nuclear security and non-proliferation”, according to a statement carried by the official Saudi Press Agency.

    “It also reflects the shared vision of both countries to expand cooperation in energy and future technologies while supporting sustainable development,” the statement said.

    “The agreement builds on the historic strategic partnership between the two friendly countries and follows the announcement made during the visit of His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud, Crown Prince and Prime Minister, to the United States in November last year, on the conclusion of negotiations on bilateral cooperation in the peaceful uses of nuclear energy,” it added.

    “The agreement also builds on the long-standing energy cooperation between the two countries, supporting efforts to diversify energy sources, advance cutting-edge technologies and expand opportunities for cooperation and investment in ways that serve the mutual interests of the two friendly countries,” the statement concluded.

    Saudi nuclear ambitions

    Nuclear development is a core component of the Saudi Vision 2030 goal of transitioning away from complete fossil fuel reliance.

    Generating domestic electricity via nuclear power will allow Saudi Arabia to export more crude oil. Rapid population growth and heavy energy consumption in the industrial and household sectors – together with water desalination needs – require major power grid expansions.

    The kingdom holds significant domestic uranium deposits, estimated at over 90,000 tons, which it intends to leverage for an independent fuel cycle.

    In 2011, Riyadh announced plans to build 16 nuclear reactors over 20 years. The target was later revised to an initial goal of constructing two large-scale 1.4 gigawatt-electric (GWe) commercial reactors, with a long-term goal of 17 GWe of capacity by 2040.

    Implemented via the Saudi National Atomic Energy Project, the strategy moved from rapid building to a focused framework: large commercial plants, small modular reactors, fuel cycle development and regulatory structures.

    The government established the Nuclear Energy Holding Company in February 2022 to act as the primary commercial developer for the projects.

    Separately, Saudi Arabia is advancing preparations for its first commercial nuclear power plant as part of its Vision 2030 strategy, with Khor Duwaiheen – identified as the lead site for a planned 2.8GW facility – now moving towards the procurement phase.

    MEED previously reported that Riyadh had held technical and commercial negotiations with shortlisted vendors including EDF, Rosatom and Korea Hydro & Nuclear Power.

    The project client, Saudi Arabia’s King Abdullah City for Atomic & Renewable Energy (KA-Care), has set and extended the bid submission deadlines several times since 2022, with advancement understood to be dependent on "progress in bilateral government-to-government talks”.

    Gulf nuclear energy moves

    The UAE was the first country in the GCC, as well as in the entire Middle East and North Africa region, to tap into nuclear energy for civilian use, having built and commissioned the Barakah nuclear power plant in Abu Dhabi in September 2024.

    Operated by the Emirates Nuclear Energy Corporation, the Barakah nuclear plant consists of four reactors, each with a capacity of 1.4GW, providing 40 terawatt-hours (TWh), equivalent to about 25% of the UAE’s base power load.

    In September last year, the plant completed its first year of full-fleet operations, generating more than 120 TWh of clean electricity since Unit 1 began operating.

    Separately, Bahrain is also exploring the use of nuclear power for domestic consumption, as well as for the potential export of surplus, as MEED recently reported. State energy conglomerate Bapco Energies is tasked with studying the prospect of building a modular nuclear power plant in the country.

    According to sources, the proposed project is being led by BeVentures, the venture capital arm of Bapco Energies, which was launched in July 2024.

    Under the plan that is being studied, power produced by the nuclear facility will be supplied mainly to major industrial complexes in the country, such as Aluminium Bahrain (Alba) and Bapco Refining, for the clean production of aluminium and refined products, respectively, in line with Bahrain’s ambition of achieving net-zero emissions by 2060.

    BeVentures has, in turn, approached global consultancy firms such as Bechtel, Fluor, Kent, Technip Energies and Wood to assist with concept study and early-stage planning and assessment for the modular or small nuclear power project.

    Bapco Energies and BeVentures are also considering tapping into private financing and equity partnerships, in part or in full, for the proposed project, sources told MEED.

    The Paris-based International Energy Agency’s Net Zero by 2050 roadmap indicates that nuclear energy will nearly double its share by 2050, with annual capacity additions reaching 30GW in the 2030s.

    At the 28th UN Climate Change Conference, Cop28, which was held in Dubai in 2023, more than 20 countries pledged to triple nuclear capacity by 2050, with banks and nuclear industry players signalling their support for the pledge more recently.

    The Organisation for Economic Co-operation & Development's Nuclear Energy Agency recently said that global nuclear capacity will triple by 2050 only under its most transformative scenario, with the Gulf's reactor procurement decisions among the projects that will determine which path the industry takes.

    Acccording to the Nuclear Energy Outlook, China and Russia hold a strategic advantage in the international market, with Chinese-designed reactors accounting for 85 GWe of projects and Russian-designed reactors accounting for 57 GWe, more than half of which are export projects in countries including Egypt, Hungary and Turkiye.

    ALSO READ: Nuclear tripling target hinges on delivery

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17731280/main.jpg
    Indrajit Sen
  • Sabic and Ceer to collaborate on electric vehicle manufacturing Administrator

    22 July 2026

    Saudi Basic Industries Corporation (Sabic) and Ceer, Saudi Arabia’s first electric vehicle (EV) brand and original equipment manufacturer, have signed a memorandum of understanding (MoU) to evaluate mutually beneficial commercial opportunities and define the terms of potential collaboration.

    The MoU provides a framework for developing innovative solutions and products by evaluating the possible use of Sabic's advanced materials in some Ceer vehicle applications and jointly developing material and processing solutions that fulfill industry needs.

    It also aims “to share knowledge and experience in sustainability and technology to support Ceer objectives in product development, and to explore potential strategic sourcing opportunities [to build] a local supply chain with global standards for the emerging local EV sector, as well as to identify and pursue additional areas of mutually agreed collaboration”, Sabic said in a statement.

    The MoU was signed on 21 July at Sabic's headquarters in Riyadh by CEO and executive board member Faisal Mohammed Alfaqeer and James DeLuca, Ceer’s CEO.

    Sabic has been one of the world's leading producers of advanced materials and solutions used in EV manufacturing for decades.

    In 2022, Ceer and Saudi Arabia’s National Industrial Development and Logistics Programme announced contributing to the efforts to accelerate the global transition to electrification by supporting the development of safe and scalable EVs, along with providing advanced thermoplastics, design expertise and engineering capabilities. The initiative also focuses on enabling lightweight, cost-effective solutions that meet stringent safety and performance standards while helping reduce environmental impact.

    Ceer will continue to leverage these advanced technology innovations to accelerate the development of the Saudi automotive industry, contributing to the creation of a highly competitive, integrated and sustainable local EV ecosystem.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17727364/main3327.jpg
    Indrajit Sen
  • Adnoc initiates oil production project at key offshore block Administrator

    22 July 2026

     

    Abu Dhabi National Oil Company (Adnoc Group) and its international partner, Pakistan International Oil (PIOL), have initiated a project to produce oil from Offshore Block 5 in Abu Dhabi’s waters, in which they are both stakeholders.

    Adnoc, the leader on the project, intends to execute it through a front-end engineering and design (feed) competition, according to sources.

    The Abu Dhabi energy giant recently selected the following three contractors for the Offshore Block 5 feed competition:

    • CNPC Offshore Engineering Co (China)
    • Saipem (Italy)
    • Sinopec (China)

    Offshore Block 5 covers 6,223 square kilometres in Gulf waters near the Zakum field and is located 100 kilometres northeast of the city of Abu Dhabi.

    Abu Dhabi’s Supreme Council for Financial & Economic Affairs awarded a production concession agreement for Offshore Block 5 to Adnoc and PIOL in June 2025, with Adnoc holding the majority 60% participating interest and PIOL the other 40%.

    Prior to that, Adnoc had signed an exploration concession agreement in August 2021 with PIOL, which is a consortium of four Pakistani state-owned companies – Pakistan Petroleum, Mari Petroleum Company, Oil & Gas Development Company and Government Holdings (Private).

    The Pakistani consortium is understood to have invested up to $304.7m in exploration and appraisal drilling, including a participation fee, to explore for and appraise oil and gas opportunities in Offshore Block 5.

    Potential oil production from Offshore Block 5 is expected to contribute to Adnoc Group’s objective of achieving an oil production capacity of 5 million barrels a day (b/d) by 2027 – a campaign known as Accelerated Integrated Programme 5. The Abu Dhabi energy giant currently has a spare capacity of 4.85 million b/d.

    Pakistan, which is heavily reliant on energy imports for its economy, will also benefit from potential oil production by its companies from the Abu Dhabi concession.

    ALSO READ: Adnoc announces FID on $6.2bn Umm Shaif gas cap project

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17726345/main.jpg
    Indrajit Sen
  • Chinese contractor appointed for 500MW Oman solar plant Administrator

    22 July 2026

    China's Shanxi Installation Group has secured an estimated $222m engineering, procurement and construction (EPC) contract for the 500MW Al-Kamil 1 solar independent power project (IPP) in Oman.

    In a filing on the Hong Kong stock exchange, the company said the deal marks its first major project in the Middle East.

    The contract covers the EPC, grid connection, testing and commissioning of the utility-scale solar photovoltaic (PV) plant, as well as 2.5 years of operations and maintenance. 

    A consortium comprising France's EDF Power Solutions, Oman National Engineering & Investment Company and OQ Alternative Energy signed the power purchase agreement for the project with Nama Power & Water Procurement Company (Nama PWP) in June.

    Nama PWP is the sole procurer of new electricity generation capacity in Oman.

    The Al-Kamil 1 solar IPP is EDF Power Solutions' third renewable energy project in Oman, following the 500MW Manah 1 solar PV IPP and the 120MW JBB wind IPP.

    As MEED has previously reported, the Al-Kamil 1 project is part of Nama PWP's renewable energy development pipeline, which also includes the 400MW Sinaw and 280MW Marsa solar IPPs.

    Nama PWP is currently tendering supervisory services for the Marsa IPP, with a bid submission deadline of 26 July.

    The pipeline also comprises the 800MW Mahout and 300MW Duqm 2 wind IPPs, both targeted for commissioning between 2027 and 2029.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17725741/main.jpg
    Mark Dowdall
  • Fluor wins feed contract for key Bahrain aromatics facility Administrator

    22 July 2026

    Bahrain’s Gulf Petrochemical Industries Company (GPIC) has awarded US-based consultant Fluor a contract for front-end engineering and design (feed) on an aromatics facility in the country.

    The project will be an expansion of GPIC’s existing petrochemicals facility in Bahrain’s downstream complex in Sitra, which produces ammonia, urea and methanol.

    The new aromatics facility will utilise “commercially-proven process technologies” to produce approximately 1.2 million metric tonnes a year (t/y) of paraxylene and 500,000 metric t/y of benzene, Texas-headquartered Fluor said.

    Paraxylene and benzene are critical building blocks for plastics, polyester fibers and packaging materials, supporting global demand for high‑performance consumer and industrial products.

    Founded in 1979, GPIC is a joint venture of Bahraini state energy enterprise Bapco Energies, known at the time as Nogaholding; chemicals giant Saudi Basic Industries Corporation (Sabic); and Petrochemical Industries Company – a subsidiary of state energy conglomerate Kuwait Petroleum Corporation. The three partners hold equal stakes of 33.3% in GPIC.

    GPIC utilises locally available natural gas as feedstock to manufacture high-quality chemicals and fertilisers for domestic consumption and export, including 1,200 metric tonnes a day (t/d) of ammonia, 1,200 metric t/d of methanol and 1,700 metric t/d of granular urea.

    ALSO READ: Bahrain taps consultants for studying use of nuclear power

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17725737/main1255.jpg
    Indrajit Sen
  • Firms submit bids for second Hassyan SWRO pipeline contract Administrator

    22 July 2026

    Dubai Electricity & Water Authority (Dewa) has received bids from three contractors for a second pipeline contract relating to the Hassyan seawater reverse osmosis (SWRO) network expansion.

    Project two requires contractors to supply, install, test and commission glass-reinforced epoxy (GRE) water transmission pipelines and associated works for the plant's phase two network.

    Local firm Tristar Engineering & Construction submitted the lowest offer of AED792.59m ($215.8m), according to tender results published by the state utility.

    Green Oasis General Contracting (UAE) submitted a bid of AED800.02m ($217.8m) and Wade Adams Contracting (UAE) made the other compliant offer of AED989.65m ($269.5m).

    In January, Dewa announced that construction of the 180-million-imperial-gallon-a-day phase one of the Hassyan SWRO independent water project was 90% complete.

    Earlier in July, eight contractors submitted bids for project one of the Hassyan pipeline network expansion.

    Dewa also has a third contract out for tender for GRE water transmission pipeline work related to the Hassyan SWRO phase two network.

    Project three was tendered on 26 January and has a bid submission deadline of 29 July.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17723861/main.jpg
    Mark Dowdall
  • Riyadh seeks contractors for Expo Icon structure Administrator

    22 July 2026

     

    Expo 2030 Riyadh Company (ERC), which is tasked with delivering the Expo 2030 Riyadh venue, has asked contractors to express interest in the construction of the Icon, one of the key landmarks at the site.

    The structure will be located at the entrance of the Expo 2030 Riyadh site, within the Collaboration Precinct.

    ERC issued the expressions of interest notice on 20 July. The deadline for submissions of interest is 23 July.

    The structure will be connected to the metro station and will serve as a gateway to the event.

    It will be 66 metres tall and will comprise an observation platform, food and beverage outlets and other features.

    The total built-up area will be approximately 16,279 square metres and it will be able to accommodate more than 1,450 visitors an hour during the event.

    The contract duration is 29 months from the start of construction.

    ERC tendered the contract for the construction of the Saudi Arabia pavilion at the site in May.

    The pavilion is a major asset located within the venue's KSA District, on the eastern side of the Expo 2030 Riyadh masterplan, within the Loop of Nations district.

    Construction progress

    The tendering of the pavilion structure followed swift progress on the site’s infrastructure development works.

    In April, ERC awarded two contracts for the next phase of infrastructure works at the site to local firm Al-Yamama 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 overall infrastructure works – covering the construction of main utilities and civil works at Expo 2030 Riyadh – are 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. 

    The masterplan encompasses an area of 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 JULY 2026 MEED BUSINESS REVIEW – click here to view PDF

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17723204/main.jpg
    Yasir Iqbal
  • EtihadWE tenders $150m Ajman substation project Administrator

    21 July 2026

    The UAE’s Etihad Water & Electricity (EtihadWE) has tendered a contract to build three new substations in Ajman.

    Estimated to cost $150m, the project involves the construction of three new 132/11kV substations in the Bahya, Rumaila and Liwara districts. It also includes associated 132kV underground cabling works to connect the substations to the existing transmission network.

    The bid submission deadline is 10 August.

    According to tender documents, the project will add distribution capacity to support load growth and improve the security of electricity supply in the emirate.

    The scope of work includes site preparation, construction of three substation buildings and foundations, installation of 132kV GIS/AIS switchgear, 132/11kV power transformers and 11kV switchgear, as well as protection, control, Scada and telecommunications systems.

    Etihad WE is responsible for electricity and water services in Ajman, Umm Al-Quwain, Ras Al-Khaimah, Fujairah and parts of Sharjah. The utility has been investing in new substations and transmission infrastructure as electricity demand continues to increase across the Northern Emirates.

    This includes a 132/33/11kV substation project on Al-Marjan Island in Ras Al-Khaimah. Construction work is ongoing on the project, with Maetal Dubai serving as the main contractor.

    EtihadWE is also finalising a new masterplan that will cover network capacity requirements and expansion priorities for the next 10 to 15 years.

    In June, Abdulla Al-Khemeiri, chief operations officer, told MEED: “We are currently reviewing it, and we need to obtain shareholder approval first. Once it is approved, it will be released, hopefully by the end of the year.” 

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17710661/main.jpg
    Mark Dowdall