Kuwait, Qatar and Iran record largest declines in value
In the GCC, the UAE saw the strongest growth, as the value of schemes planned or under way increased by 0.7 per cent. A total of 170 new projects were launched during the week, the largest of which was a $490m scheme by the UAE/Australian Habtoor Leighton Group to build staff housing in Dubai.
Kuwait and Qatar had the biggest declines in the GCC, with each countrys index falling by 0.6 per cent. The slump in Kuwait was due to the completion of the $1.2bn Mubarak al-Kabeer Seaport, while the drop in Qatar was largely due to the $2bn Airport City scheme being put on hold. Qatar also saw the completion of the $400m West End Park project.
Saudi Arabia, the largest and fastest-growing projects market in the region, rose 0.1 per cent as the budget of the Jubail polyurethane plant scheme grew by $2.7bn.
|Project name||Project status|
|Iraq||Farzad B gas field development : offshore package||On hold|
|Iraq||Kurdistan independent power project||Prequalification|
|Iraq||Taq Taq Dam and hydropower project||Design|
|Kuwait||Mubarak al-Kabeer Seaport: phase 1 package 2||Complete|
|Qatar||West End Park||Complete|
|For further information visit www.meed.com/meedprojects|
Outside the GCC, Irans projects market fell 0.6 per cent as a $1bn gas scheme was put on hold and a $350m petrochemicals plant project was completed. Iran is now the worst-performing projects market in the region, as the value of schemes planned or under way in the country is down 16.2 per cent compared with last year.
|Upcoming tender deadlines|
|Kuwait||Public Works Ministry||Kuwait airport terminal||24-Apr|
|Tunisia||Office National de lAssainissement||Wastewater treatment plant works||29-Apr|
|Saudi Arabia||Finance Ministry||Governmental Authorities Complex infrastructure||04-May|
|UAE||Tourism Development & Investment Company||Guggenheim Museum||08-May|
|Kuwait||Kuwait Oil Company||Provision of masterplan for installation services||18-May|
|For further information visit www.meed.com/tenders|
Iraqs projects market saw the largest gain across the region, as the value of schemes planned or under way rose by 1 per cent. A total of 13 new projects were launched during the week, the largest of which was a $2bn power plant in Kurdistan. The gains from the new schemes were offset by the $2.4bn reduction in the budget of a project to build degassing stations in the Zubair oil field.
Biggest contract: $4.8bn
$13bn: Value of major contract awards
9: Number of contracts awarded
For further information visit www.meed.com/contracts
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