meed-logo

line1 line2 line3
SIGN IN / REGISTER

US and Iran trade nuclear talk overtures

10 March 2025

Iran will only consider nuclear talks with the US if the objective of the negotiations is to address concerns on the militarisation of Iran's nuclear programme, the Islamic Republic's UN Mission said in a social media post on 9 March.

"If the objective of negotiations is to address concerns vis-a-vis any potential militarisation of Iran’s nuclear programme, such discussions may be subject to consideration," Iran's UN MIssion said on social media platform X. "However, should the aim be the dismantlement of Iran’s peaceful nuclear programme to claim that what [former US President Barack] Obama failed to achieve has now been accomplished, such negotiations will never take place."

The statement was issued two days after US President Donald Trump said he had offered Iran a chance to negotiate or risk its nuclear programme being targeted militarily.

"There are two ways Iran can be handled – militarily, or you make a deal," Trump told Fox Business in an interview on 7 March. "I would prefer to make a deal, because I am not looking to hurt Iran."

"I've written them a letter, saying I hope you're going to negotiate because if we have to go in militarily it's going to be a terrible thing for them," Trump said.

Iran's Supreme Leader, Ayatollah Ali Khamenei, appeared to have responded indirectly to those comments on 8 March, saying Iran would not negotiate with "bullying governments" insisting on talks.

2015 nuclear deal

Under a landmark deal called the Joint Comprehensive Plan of Action, which was struck in 2015, Iran agreed to mothball its Fordo nuclear plant and limit its enrichment of uranium to 3.67%, as part of a package of restrictions on its nuclear activities aimed at preventing it from covertly developing a nuclear weapon.

In return for the restrictions, major powers including China, France, Germany, Russia, the UK, the US and the EU agreed to relax the sanctions they had imposed on Iran’s nuclear programme.

But the deal crumbled in 2018 during Trump's first term, as he pulled Washington out of the agreement and reimposed crippling economic sanctions.

Iran has since reopened its Fordo plant and, in November 2022, said it had begun producing uranium enriched to 60% there, just below the level of purity needed for a nuclear weapon.

Talks to revive the 2015 pact began in April 2021 but have stalled in recent years amid tensions between Iran and other parties to the deal.

READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDF

Chinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025

Distributed to senior decision-makers in the region and around the world, the March 2025 edition of MEED Business Review includes:

> GULF PROJECTS INDEX: Gulf hits six-month growth streak
To see previous issues of MEED Business Review, please click here
https://image.digitalinsightresearch.in/uploads/NewsArticle/13469487/main5329.jpg
Jennifer Aguinaldo

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

Click here to register
Exclusive from Meed
Related Articles
  • Firms prepare Hudayriat East PPP tunnels advisory bids

    25 June 2026

     

    Abu Dhabi’s Modon Infrastructure, formerly Gridora, has tendered a contract for technical advisory services for the construction of two underwater tunnels connecting the eastern side of Hudayriat Island with mainland Abu Dhabi.

    Consultants have until 26 June to submit their proposals.

    The project includes the construction of a 4.8-kilometre (km) highway, with four lanes in each direction, connecting Hudayriat Island to Mussafah 8th Street.

    The project will be delivered on a public-private partnership (PPP) basis in coordination with the Abu Dhabi Department of Municipalities and Transport and the Abu Dhabi Investment Office.

    The contract term is expected to be 25 years.

    The latest infrastructure development in Abu Dhabi follows Modon Infrastructure’s invitation in May for firms to register for the next phase of Abu Dhabi’s Mid Island Parkway Project (MIPP), which will also be developed on a PPP basis.

    Modon Infrastructure will act as the lead developer, holding the majority equity stake in the project company. It will award the engineering, procurement and construction contract, as well as the operations and maintenance services and advisory appointments.

    The second phase of the MIPP involves the construction of about 11km of highways, including a mix of three-, four- and five-lane sections. The highways will connect the Um-Yifeenah, Al-Jubail, Al-Sammaliyyah and Sas Al-Nakhl islands to Khalifa City and the E10 road.

    The scope also covers the construction of three interchanges: the E20, E10 and Dumbbell interchanges on Al-Sammaliyyah Island.

    The project includes several major structures, such as the E20 interchange, which will feature cast-in-place box-girder and void-slab bridges, and the E10 interchange with cast-in-place box-girder bridges. It also includes I-girder bridges between Raha Beach West and Sas Al-Nakhl Island, as well as a causeway at Sas Al-Nakhl Island.

    Further key elements include a cast-in-place balanced cantilever bridge between Sas Al-Nakhl Island and Al-Sammaliyyah Island; a tunnel between Al-Sammaliyyah Island and Bilrimaid Island; and a cut-and-cover (open) tunnel on Bilrimaid Island. The project will be completed with another tunnel connecting Bilrimaid Island to Um-Yifeenah Island.

    > Be recognised among the best in the industry at the MEED Projects Awards 2026 …

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17410214/main.jpg
    Yasir Iqbal
  • Algeria tenders upstream oil project contract

    25 June 2026

    Algeria’s state-owned national oil and gas company, Sonatrach, has tendered a contract for the development and rehabilitation of the central processing facility (CPF) at the Bir Berkine oil and gas field.

    The scope of the contract includes the study, supply, construction and commissioning of a project to rehabilitate the CPF facilities at the field, which is located in the Hassi Mesaoud region.

    Sonatrach says in the tender documents that the objective of the project is to ensure the continuity of production activities “under stable and secure operating conditions”.

    It also says the project aims to improve production yields and quality.

    The contract includes both initial and detailed studies as well as the supply of all equipment and materials.

    It also includes the execution of works, the assembly of all equipment and materials, and the commissioning of all relevant facilities.

    The tender has a two-stage submission process, with the first stage requiring technical bids to be submitted by 23 August.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17423013/main3916.jpg
    Wil Crisp
  • Red Sea Global tenders King Salman Bay construction work

    25 June 2026

     

    Saudi gigaproject developer Red Sea Global (RSG) has tendered a contract inviting firms to undertake marine infrastructure works at King Salman Bay on the Red Sea coast, north of Jeddah.

    The scope includes dredging and earthworks, as well as quay wall and edge protection works spanning about 11 kilometres.

    The bid submission deadline is 31 July.

    King Salman Bay is expected to be a waterfront development aimed at reshaping the city’s northern Red Sea frontage into a mixed-use destination, anchored by public-realm improvements and leisure-led development.

    The update follows RSG’s award of an estimated SR100m ($27m) contract to construct a solid waste management centre at its Red Sea Project. The scope includes four buildings: a material recycling facility, a transfer station, an administration building and a vehicle maintenance building.

    In October last year, MEED reported that RSG had secured a SR6.5bn ($1.7bn) credit facility to further develop Amaala, its luxury tourism destination on Saudi Arabia’s northwestern Red Sea coast.

    According to an official statement, “The funding is led by Riyad Bank as the sole underwriter, along with Saudi Investment Bank and Bank Al-Bilad as mandated lead arrangers.

    “The loan arrangement comprises a mix of conventional and Islamic financing and adheres to RSG’s Green Loan Framework, which was first established when it secured private funding from a consortium of four banks for the Red Sea destination in 2021,” the statement added.

    The announcement followed RSG’s opening of its first properties for sale at Amaala, including branded residential communities and a five-bedroom villa on a private island.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17430045/main.jpg
    Yasir Iqbal
  • MECC submits lowest bid on three Kuwaiti oil and gas contracts

    25 June 2026

     

    Kuwait-based Mechanical Engineering & Contracting Company (MECC) has submitted the lowest bid across three separate contracts tendered by the state-owned upstream operator Kuwait Oil Company (KOC).

    The total value of the low bids is $427m, and all of the contracts are focused on developing substations to power industrial lift pumps and remote header manifolds

    Five companies submitted bids for a contract to develop several substations to power industrial lift pumps and remote header manifolds in areas 6, 10 and 12 in southern and eastern Kuwait.

    The bidders were:

    • MECC: KD65,760,000 ($212m)
    • Heavy Engineering Industries & Shipbuilding Company: KD70,630,000 ($228m)
    • Amco Engineering & Construction: KD73,446,100 ($237m)
    • Combined Group Contracting Company: KD76,186,000 ($246m)
    • Nasser Mohammed Al-Badah & Partner General Trading & Contracting: KD79,332,417 ($256m)

    Six companies submitted bids for a contract to develop several substations to power industrial lift pumps and remote header manifolds in areas 8 and 13 in southern and eastern Kuwait.

    The bidders were:

    • MECC: KD30,760,000 ($99m)
    • Badr Al-Mulla & Brothers: KD32,662,040 ($106m)
    • Heavy Engineering Industries & Shipbuilding Company: KD34,139,000 ($110m)
    • Industrial Company for Electrical Projects: KD36,375,520 ($118m)
    • Nasser Mohammed Al-Badah & Partner General Trading & Contracting: KD37,278,526 ($120m)
    • Combined Group Contracting Company: KD37,790,000 ($122m)

    Eight companies submitted bids for a contract focused on developing several substations to power industrial lift pumps and remote header manifolds in areas 7, 9, and 11 in southern and eastern Kuwait.

    The bidders were:

    • MECC: KD35,760,000 ($116m)
    • Badr Al-Mulla & Brothers: KD39,447,165 ($127m)
    • Amco Engineering & Construction: KD39,736,800 ($128m)
    • Heavy Engineering Industries & Shipbuilding Company: KD40,105,000 ($130m)
    • Industrial Company for Electrical Projects: KD43,238,265 ($140m)
    • Engineering Company for Petroleum & Chemical Industries (Enppi): KD43,514,805 ($141m)
    • Combined Group Contracting Company: KD43,650,000 ($141m)
    • Nasser Mohammed Al-Badah & Partner General Trading & Contracting: KD43,706,826 ($141m)

    Kuwait’s oil and gas sector has been in crisis in recent months due to disruption from the regional conflict that started after the US and Israel attacked Iran on 28 February 2026.

    A preliminary peace agreement between the US and Iran, which was announced on 14 June, has increased optimism that disruption to the sector will decrease in the coming weeks.

    Under the terms of the agreement, both sides have stated that the free flow of vessels will be permitted through the Strait of Hormuz, through which nearly all of Kuwait’s crude oil is normally exported.

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

    GCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.

    Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17423009/main.jpg
    Wil Crisp
  • Chinese firm wins $265m Saudi hospital contract

    24 June 2026

    Zhejiang Construction International, the local subsidiary of Chinese contractor Zhejiang Construction Investment Group, has won a $265m contract to build the Prince Mohammed Bin Fahd University Speciality Hospital in Al-Khobar.

    Construction is expected to take three years from the start date.

    Prince Mohammed Bin Fahd University awarded the contract.

    Located in Al-Raja district, Al-Khobar, in Saudi Arabia’s Eastern Province, the hospital project will cover about 60,000 square metres.

    The contract covers the construction of a 10-storey hospital building, two five-storey auxiliary buildings connected by corridors and a basement.

    Work will include civil works, mechanical and electrical installation, curtain walling, landscaping, detailed design and the procurement of medical equipment.

    The award is the latest in a series of contracts secured by Chinese contractors from Saudi entities in recent months.

    Last week, MEED reported that Saudi Arabia’s Ministry of Municipalities & Housing awarded contracts worth more than SR1.9bn ($506m) to Chinese contractors for two residential developments in the kingdom.

    China Architectural Construction Corporation won the first contract, valued at SR875m ($233m), to build 2,010 housing units at the Al-Ruba residential project in Riyadh.

    China State Construction Engineering Corporation secured the other contract, valued at more than SR1bn ($266m), for the Al-Rasha Al-Faisaliah residential project in Dammam, comprising 2,426 housing units.

    GlobalData expects Saudi Arabia’s construction industry to record average annual growth of 5.2% in 2025-28, supported by investments in transport, electricity, housing and tourism infrastructure, as well as the $850bn-plus gigaprojects programme.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17412846/main.jpg
    Yasir Iqbal