MEED
Issue No 14 2-8 April 2010
View all stories from this issue.
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A long road ahead for Dubai World
Debt proposals lack clarity on crucial details and a final settlement will still be a long way off -
Abu Dhabi tenders main construction deal on $1bn Louvre
Construction consortiums hope to win Abu Dhabi museum contracts -
Aldar to open Al-Bateen school in 2011
Abu Dhabi school will cost $35m to develop -
Algeria's Djen Djen port contract delayed
Sonatrach corruption investigation is affecting projects in Algeria -
Algiers plans April mines licensing round
Up to 54 new licences to be auctioned by Algerian Ministry of Mines -
Anzal Mohammed
Anzal Mohammed is partner, Allen & Overy -
Ashghal awards $184m road contract
Contract is the latest in Qatar’s $20bn plan to modernise national infrastructure by 2014 -
Baghdad approves plan to build one million new homes
National Investment Commission originally planned only 500,000 homes -
Cleantech unveils $450m Jordan solar power project
Developer intends to make up 80 per cent of solar power plant project financing through debt -
Conoco makes contractors wait
Plan to decide fate of two $10bn schemes in May will be painful for firms bidding on various contracts -
Conoco to decide fate of two $10bn schemes in May
No final decision has been made on Yanbu refinery in Saudi Arabia or Shah gas project in UAE -
Debashis Dey
Debashis Dey is partner and head of debt capital markets, Clifford Chance -
Dubai’s debt plan is all there
Restructuring proposals are just a start leaving investors cautious on crucial details such as interest rates that still have to be thrashed out -
Egyptian Petroleum shortlists three for $2bn loan
Winning bid to be announced on 1 April -
Emaar investors to meet with lawyers over $760m of delayed projects
Representatives of 380 Emaar properties investors want to initiate legal proceedings against the developer -
Firms line up for Abu Dhabi lubricants plant
Engineering proposals submitted in first round of bidding for $500m construction deal -
GCC bond market lawyers
Six leading bond market lawyers in the region are: Craiq Stoehr, Richard O’Callaghan, Anzal Mohammed, Debashis Dey, Rahail Ali and Harnek Shoker -
GCC needs to invest $137bn to meet power and water demand
Power demand growth to average 8 per cent until 2019 -
GCC states must cut subsidies
Increasing power tariffs will pave the way to reduced usage as well as creating new capacity investments -
Harnek Shoker
Harnek Shoker is head of the Bahrain office, Freshfields Bruckhaus Deringer -
Iraq is ready to rise again
The $150bn reconstruction programme will allow Iraq to slowly return to former glory -
Iraq looks to develop $150bn of infrastructure by 2025
Amendments to Iraq’s Investment Law have streamlined foreign investment and ownership -
Kuwait delays Al-Zour water and power plant tender deadline
Interested parties have until 4 July to respond -
Kuwait plans $2bn heavy oil construction tender
Kuwait moves ahead with plan to produce crude from northern fields -
Kuwait tenders $85m pipelines contract
The $85m Kuwait Oil Company contract involves building a series of crude oil pipelines -
Kuwait’s Agility to pay $600m in fraud case
Agility payment to US government will be made over three years -
MEED 100 Results 2010: Market picks up after tough year
The MEED 100 largest companies list for 2010 shows much upheaval as a result of the global economic recession, regional real-estate woes and the banking sector debt crisis, but generally revenues are still up -
MEED 100 Sector analysis: Banking
Despite a tough 2009, the market capitalisation of the region’s banks grew. But the outlook is still difficult -
MEED 100 Sector analysis: Conglomerates
The rankings for the mega-firms are largely unchanged this year and sentiment is improving -
MEED 100 Sector analysis: Construction
Orascom, and Southern Province Cement Company move up despite a difficult year -
MEED 100 Sector analysis: Food
Kuwait Food Company makes it to the MEED 100, previously dominated by Almarai and Savola -
MEED 100 Sector analysis: Metals & Mining
Tehran’s ambitious minerals and mining programme provides a boost to Iranian firms -
MEED 100 Sector analysis: Oil & Gas
Iran’s Isfahan joins Taqa as the only listed oil and gas firms to make the MEED 100. Dana fails to return -
MEED 100 Sector analysis: Petrochemicals
Saudi firms once again dominate the rankings for regional petrochemicals companies -
MEED 100 Sector analysis: Real Estate
Mixed fortunes for developers as slowdown in the real estate sector continues to weigh in on profits -
MEED 100 Sector analysis: Telecoms
The sector endures a tough year as Etisalat and Saudi Telecom Company continue to fight it out for the top spot -
MEED 100 Sector analysis: Transport & Logistics
DP World weathers Dubai debt storm and decline in global trade as Nakilat continues good showing -
MEED 100 Sector analysis: Utilities
Iran Power Plants joins Saudi Electricity Company and Qatar Electricity & Water Company -
MEED 100 shows things are better
After a battering in 2009, the largest listed firms in the Middle East are on a stronger footing this year -
Middle East contracts awarded: April 2010
Over $13bn worth of contracts have been awarded across the Middle East in April 2010, according to this selected checklist compiled from MEED reports -
National Petroleum Construction wins $62m Qatar pipelines deal
Deal is part of third-phase upgrade of Occidental Petroleum’s Idd al-Shargi North Dome field -
Occidental retenders Oman crude stabilisation contract
Design changes could cut costs by up to 20 per cent -
Partners add rail lines to Qatar-Bahrain Causeway scheme
The bridge will have two rail lines between Qatar and Bahrain by 2015 -
Petrofac wins $650m Qatar gas sweetening deal
Delayed Dukhan and Mesaieed gas deal to move ahead -
Q&A: Fazel Fazelbhoy, CEO, Topaz Energy and Marine
Orders pick up in Fujairah for Dubai-based company -
Qatar reviews proposals for Ras Laffan power and water expansion
Kahramaa receives proposals for three Ras Laffan power and water plants -
Rahail Ali
Rahail Ali is partner and global head of Islamic finance, Lovells -
Richard O’Callaghan
Richard O’Callaghan is partner, Linklaters -
Saudi Arabian Railway to operate Landbridge project
Contractors bidding for on construction deals are still unclear on when awards will be made -
Saudi firm plans Yanbu polysilicon plant
The plant will will have a capacity of 5,000 tonnes a year -
Special Report: MEED 100 - The Middle East's top 100 listed companies in 2010
The global economic crisis of 2008-09 had a dramatic impact on the financial performance of companies in the Middle East. Sales and profits were slashed even at the biggest firms; state energy giant Saudi Basic Industries Corporation (Sabic) recorded its first quarterly loss since 2001 in the first quarter of 2009. -
Topaz Energy and Marine
The company has grown through acquisitions into a leading marine services firm -
Topaz Energy and Marine: MEED Assessment
Topaz is positioned to become a major offshore support vessel owner and operator -
UAE's federal railway on a fast track
With plans to have the first section of the $11bn federal rail network completed by 2013, Abu Dhabi’s Union Railway is fast-tracking procurement on the Gulf’s most significant transport project -
US firms favourites to be lead arrangers on $290m EgyptAir loan
US’ JP Morgan and Citigroup submit best bids
