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Saudi Arabia News and Analysis

Power plant

Saudi Arabia to save $13bn by improving power sector efficiencySubscription

Converting existing power plants to combined cycle facilities will form key part of target

Electricity transmission

Saudi Arabia formulating national electricity strategy with World BankSubscription

Improving efficiency and implementing renewable energy programmes will form key components of strategy

Jubail Industrial City

Saudi state fund approves Chemanol debt restructuringSubscription

Jubail-based methanol manufacturer is restructuring SR386m outstanding loan

King Abdullah Financial District in Riyadh

Saudi Binladin in banks talks to rollover debtSubscription

Contractor approaches lenders to get loans to meet short-term liabilities

Saudi soldiers

Saudi Arabia offers ground troops in SyriaSubscription

The use of ground troops has been discussed in the past

Dubai International airport

Major GCC airports post record passenger growth Subscription

Airports report double-digit increases in 2015

Desalination facility

Bid deadline extended for Jeddah desalination plantSubscription

Facility will have total capacity of 400,000 cubic metres a day

Saudi Aramco

Saudi Aramco considers sukukSubscription

Size of issuance yet to be decided

Gas pipeline

Local firm wins $1bn Saudi Aramco pipeline packagesSubscription

State oil company awards three contracts on Master Gas System Expansion

City Centre Mall

Majid al-Futtaim revenues grow by 8 per centSubscription

Shopping malls and hotel operator continues to grow in the Middle East and African region

A construction crane crashed into the Grand Mosque in Mecca on 12 September, killing 107 people

Riyadh completes Mecca crane accident inquirySubscription

Saudi Arabia is expected to make an announcement on findings within weeks

Funding: Jabal Omar Development Company received a $1bn loan from NCB, a new entrant to the MEED 100

Jabal Omar misses first loan repaymentSubscription

Saudi Arabian developer fails to make first payment of a finance deal arrange in late 2015

A construction crane crashed into the Grand Mosque in Mecca on 12 September, killing 107 people

Saudi Binladin Group eyes private sector property developmentSubscription

Firm is reducing dependence on government construction contracts

Airport

Saudi northern airport hub to open in second quarterSubscription

Hail will serve as a connecting airport for daily flights originating from the kingdom’s key cities to the northern airports

New airport terminal planned for Dammam

Prequalification list for Taif airport PPP by end of FebruarySubscription

Tender due in the first half of 2016

Saudi Aramco offshore rig

Saudi Aramco assessing Hasbah bidsSubscription

February contract award expected on estimated $1.5bn gas field development

Riyadh

Algosaibi presents settlement detailsSubscription

Claimants have been invited to enter process to agree amounts of their claims

Saudi housing

Minister says $400bn to be spent on Saudi housing planSubscription

Government officials are in talks with international governments and companies

Jeddah

Saudi residential market shifts to rentalsSubscription

Residential transactions have declined by 5 per cent

Saudi Aramco president and CEO Amin Nasser

Aramco CEO expects 'price adjustment' at end of 2016Subscription

State oil major predicts higher demand for oil will lead to adjustment

Coal-fired power station

Massive project finance pipeline for 2016Subscription

Project finance in 2016 shows potential, but banks may hold back

The Jabal Omar development in Mecca

Jabal Omar highlights challenges facing private developers Subscription

Mecca project developer has missed payment on $800m loan

Oil rig

Board Report: February 2016Subscription

Region begins economic overhaul in response to low oil prices

The IMF estimates that on average, the richest 20 per cent of a nation benefits six times more from subsidies than the poorest 20 per cent

Cut subsidies and increase efficiencySubscription

Cheaper crude has convinced many regional governments to reform energy subsidies, a vital step towards changing the region’s wasteful habits    

Youth bulge

Harnessing the youth bulgeSubscription

The increasing proportion of young people in the region means governments can achieve rapid economic growth through prudent job creation

Saudi petrochemicals project shelved

Saudi petrochemicals hit by feedstock increasesSubscription

Ethane prices more than double as kingdom cuts subsidies on gas prices

Nakheel: Palm Jumeirah

GCC contract awards to fall in 2016Subscription

A sharp decline of 15 per cent is forecast for contract awards in the region, although a series of major contract awards in Dubai provides some cause for optimism

4 top 100 projects contract values by quarter, Q4 2015

Egypt a bright spot in declining Top 100 Projects indexSubscription

More falls could follow for the index tracker

Offshore oil rig

The outlook for oil and gas in 2016Subscription

Many of the projects in the region’s oil and gas pipeline are in states such as Algeria, Iraq and Egypt, where politics can have a substantial impact

Steel production capacity in Middle East and North Africa

Inefficiency could hit profits for GCC steel producersSubscription

Industry leaders have warned that inefficient manufacturers in the region could go out of business if reforms are not implemented

Saudi Arabia

Will Saudi Arabia deliver on its 2016 budget promises?Subscription

The kingdom has increased domestic energy and utilities prices to help control spending in 2016

Saudi Arabia forms $10bn investment fund

Saudi Arabia set to introduce VAT in two yearsSubscription

Kingdom aiming for tax rate of 5 per cent

King Salman bin Abdulaziz al-Saud

Saudi budget reflects new economic realitiesSubscription

The reduction in spending could mean delays in some of the kingdom’s largest upcoming projects

Saudi Arabia forms $10bn investment fund

Saudi Arabia to review project management as budget cuts loomSubscription

The kingdom’s major projects will increasingly employ programme management solutions for large, complex developments