MEED
Issue No 05 1 - 7 February 2008
View all stories from this issue.
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Poor port management costs shipping sector $615m a year
Maersk chief says productivity has fallen by 20 per cent since 2000 -
Abu Dhabi holds talks on rail plan to ease road congestion
Abu Dhabi has held talks with potential operators of a rail network linking it to Saudi Arabia and the rest of the UAE, as it presses ahead with plans to relieve pressure on its roads.The rail network will extend from the Saudi border, through Abu Dhabi, up to Dubai and the northern emirates.The Rail Committee has also received bids from at least four groups for the programme management contract for the 350-kilometre first phase of the scheme, which will involve the construction -
Benchmark index boosts Dubai International Financial Exchange
A new benchmark index being developed for the Dubai International Financial Exchange (DIFX) could boost its recently launched structured product platform, DIFX Trax. -
Benefits plan puts pressure on Jordan's budget deficit
Jordan’s budget deficit could grow in 2008 despite the end of fuel subsidies, because of the government’s commitment to paying benefits to the poor, according to analysts.Jordan has been able to manage its budget deficit, which is estimated at JD600m ($846m) for 2007, as its economy has been growing at more than 6 per cent a year over the past decade.However, if the global economy slows the government’s tax receipts are likely to fall, making its benefits system a burden on publ -
Bidders line up for $2bn Qatar-Bahrain causeway
The Qatar-Bahrain Causeway Foundation is to issue tenders for the contract to carry out programme management services for the $2bn Qatar-Bahrain causeway.Prospective bidders include the US’ CH2M Hill and Parsons International, and the UK’s Halcrow and Mott MacDonald.It is unclear who the programme management company will report to. One option being considered is for it to report to the Bahrainis, while the contracting consortium reports to the Qatari government.The succes -
Big Oil assists with Qatar North field studies
Qatar Petroleum brings in international expertise to gain greater understanding of the giant reservoir -
Call for port operators to put customers first
Deep-running fault lines are emerging between port operators and their customers. While operators across the region are eager to unveil unprecedented expansion plans, their customers have a different story to tell. Shipping groups are lamenting falling productivity and soaring costs. -
China Harbour-led consortium challenges Duqm port award
The China Harbour Engineering Company-led consortium is launching a legal challenge to its defeat in a bid to build a ship repair and drydock complex at Oman’s Duqm port. -
Construction boom brings foreign competition
Contractors taking part in MEED’s Top 50 survey say 2008 will be an even bigger year in terms of project awards than 2007 - which would appear to be good news for local firms. -
Contractor survey 2008 - Bahrain: Private developers drive boom
Following the launch of a series of large, privately financed real estate projects, Bahrain's construction sector is beginning to catch up with the rest of the region. -
Contractor survey 2008 - Kuwait: Slow market forces firms overseas
As Kuwait struggles to move forward with its ambitious development plans, local contractors are looking for work elsewhere in the region to maintain profit margins. -
Contractor survey 2008 - Oman: Tourism drive stretches resources
Oman's construction market has been quiet compared with the rest of the Gulf, but with the launch of a series of projects aimed at boosting tourism, local contractors will be put to the test. -
Contractor survey 2008 - Qatar: Labour shortage delays development
Contractors are flocking to Qatar as Doha spends billions on much-needed infrastructure improvements. But difficulties in getting workers into the country could undermine its plans. -
Contractor survey 2008 - Results: Global heavyweights arrive in force
MEED’s latest contractor survey shows that while local companies are gaining more work than ever in the region, international firms are increasingly competing for awards. -
Contractor survey 2008 - Saudi Arabia: Smaller firms struggle to compete in Saudi
As Riyadh attempts to diversify its economy with a series of megaprojects, contract awards are being dominated by local giants Saudi Oger and Saudi Binladin Group. -
Contractor survey 2008 - UAE: Abu Dhabi closes gap on Dubai
The big four UAE contractors all did well in 2007, but Al-Jaber Group won the most work as Abu Dhabi launched a series of megaprojects. -
Doha prepares solar and nuclear plans
Kahramaa to build world’s largest solar power plant or nuclear facility to meet surge in energy demand -
Firms line up for $5.5bn Doha New Port project
Doha New Port Steering Committee is prequalifying firms for contracts to project manage and provide engineering services on the $5.5bn Doha New Port project at Mesaieed.It follows a decision in 2007 to scrap plans for a port in Doha, in favour of the Mesaieed site (MEED 5:10:07). The new location is better placed to serve development at the Mesaieed industrial area. UK consultant Scott Wilson is representing the client.The old port scheme was scheduled to start in 2004 and compl -
Five groups to bid for $1bn Mesaieed ethylene cracker
Contract for Qatar Petroleum and Honam plant to be awarded in August -
Gas distribution deal on Abu Dhabi island attracts little interest
Only two companies are expected to bid for the contract to build a gas distribution network on Abu Dhabi island: Lebanon’s Contracting & Trading (CAT) and Athens-based Consolidated Contractors Company (CCC).About eight international and local contractors are understood to have attended a site meeting with the client, Adnoc Distribution, in autumn 2007.But most firms declined to participate, citing concerns over the terms and complexity of the work.The $300m contract cover -
Gas shortfall stalls Libya-Tunisia pipeline
Project in doubt as Tripoli re-evaluates its ability to enter into long-term supply agreementsKarin MareePlans to pipe gas from Libya to neighbouring Tunisia are in doubt, as Tripoli is understood to be re-evaluating its ability to enter into a long-term supply agreement, according to sources from both countries.A project to build a 266-kilometre-long gas pipeline between Melitah on Libya’s west coast to Ghabes in southeast Tunisia is understood to have stalled because of -
GCC membership is no panacea for Yemen's economic problems
Yemen wants to grow its economy by joining the GCC. It would do better to adopt the economic model of liberalising North African states. -
GCC under pressure from consortium to agree rail route
Consortium conducting technical study calls on secretariat to confirm plan or risk missing deadline -
High oil prices help industry absorb rising exploration costs
For an industry already grappling with labour shortages and hikes in raw material prices, the surge in the cost of oil rigs in recent years is a further, unwelcome complication. -
Lebanon telecoms: The six most important figures
The six most important figures in the Lebanese telecommunications sector: Kamal Shehadi; Gilbert Najjar; Mohammed Shabib; Ineke Botter; Marwan Hamadeh; and Hassan Nasrallah. -
Muscat backs masterplan for Duqm integrated refinery and petrochemicals complex
More than 20 firms express interest as planners issue tender for free zone -
Ratings will ease Ras al-Khaimah's access to funding
On the face of it, it is odd that Ras al-Khaimah should receive a sovereign rating from Standard & Poor’s and Fitch. After all, it is not even a sovereign state. Nonetheless, the A ratings announced on 27 January will make it easier for the emirate to move ahead with its growth plans and avoid being left even further behind by Dubai and Abu Dhabi. -
Regional skills shortage prevents firms upgrading computer systems
Software giant Oracle says lack of skilled workers is restricting growth -
Rig prices soar as oil hits new highs
A boom in oil and gas exploration activity is pushing up the cost of drilling rigs -
Riyadh considers plan to double Dammam port container capacity
King Abdulaziz port officials finalise scheme to enhance its commercial appeal -
Riyadh delays wastewater services privatisation plan
Supreme Economic Council yet to give ministry approval to begin the process -
Sanaa brushes aside the terrorist threat in a bid for tourists
Yemen is working hard on tourism in a bid to diversify its economy away from oil. -
Saudi Aramco to boost capacity at offshore Karan gas field
Saudi Aramco is to increase capacity at its Karan gas field development by 50 per cent as it looks to keep pace with soaring domestic demand. -
Special report: Contractor survey 2008
For four years, the Gulf’s construction industry has been grappling with spiralling costs. With oil prices showing no sign of decreasing, and an acceleration in government infrastructure spending, there will be no let-up. -
Sub-prime crisis hits regional banks
Fears mount over asset-backed debt exposure as ratings agencies prepare to downgrade major institutions -
The rising cost of growth
Inflation is the price the Gulf is paying for rapid economic expansion -
Xenel Industries
The Saudi conglomerate is using its wide-ranging business interests to expand into other countries. -
Xenel Industries: MEED Assessment
Xenel’s base of activities poses a risk that the company is spreading itself too thin, although its corporate structure helps mitigate against this risk -
ZincOx starts work on $176m Yemen mine
UK mining company ZincOx has started work on its 22-month, $176m project to build Yemen’s first industrial-scale mine.
