Egyptian and Saudi project owners lead 2022 ranking

12 July 2022
The top 10 most active project owners for contract awards reflects heightened project activity in Egypt and Saudi Arabia

Egyptian and Saudi project owners dominated the top 10 list of most active project owners during the first half of this year, according to data from regional projects tracker MEED Projects.

The five most active project owners each awarded more than $2bn of contracts during the first half of this year.

The most active client is Egypt’s National Authority for Tunnels (NAT), which has awarded a series of major rail contracts this year.

The largest deal was the $4.45bn contract signed with a consortium of Germany’s Siemens Mobility, and the local Orascom Construction and The Arab Contractors for the second and third lines of Egypt’s high-speed rail network.

The most recent was signed in late June, when France’s Thales, Colas Rail, also of France, and the local Orascom Construction were awarded a new contract to design and build the telecoms, centralised control and ticketing systems for the Cairo Metro's Line 4 phase 1. ​The Line 4 project involves the development of a 42-kilometre line and 35 stations, in two development phases.

Aramco deals

Saudi Aramco was the second-most active project owner during the first half. Its largest awards were for the Zuluf oil and gas field increment project. Both were awarded to Japan’s JGC.

Following Aramco was another Saudi client, Neom. Project activity at the $500bn project has ramped up during the first half of this year with the award of contracts for the drill-and-blast tunnel sections of the 170-kilometre-long infrastructure backbone, which is known as The Line.

The drill-and-blast works are split into four packages, with two contracting teams winning two packages each.

One joint-venture team comprises Spain’s FCC and the local Shibh al-Jazira Contracting Company (Sajco) and Beijing-based China State Construction Engineering Corporation. The other joint venture is Greece’s Archirodon with South Korean contractors Samsung C&T and Hyundai Engineering & Construction.

Rosatom projects

In fourth place is Russia’s Rosatom, which is developing Egypt’s El-Dabaa nuclear power plant. It selected Korea Hydro & Nuclear Power (KHNP), a subsidiary of Korea Electric Power Corporation (Kepco), as the single supplier for the construction of the turbine islands for the plant.

The fifth-most active client during the first half of this year was QatarEnergy. Its largest award was secured by US-based McDermott International for the engineering, procurement, construction and installation (EPCI) of offshore structures at the North Field gas reserve.

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