Read the March 2024 MEED Business Review

28 February 2024
Saudi Arabia accelerates its mining investments; Cairo confronts deepening security and economic threats; Offshore oil and gas spending reaches a decade high
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Saudi Arabia’s natural resources are estimated to be worth $2.5tn, making the metals and mining industry crucial to Riyadh’s Vision 2030 socioeconomic transformation strategy.

The latest issue of MEED Business Review examines how the kingdom's Ministry of Industry & Mineral Resources is leading efforts to boost investment in the sector with a mineral exploration incentive programme valued at $182m.

In January 2023, Saudi Arabian Mining Company (Maaden) signed a joint-venture agreement with the Public Investment Fund to establish a new entity to invest in mining assets globally, known as Manara Minerals. 

Amid a surge in merger and acquisition (M&A) activity in the global mining sector, the new company entered into a deal in July last year with Brazilian mining major Vale to become a 10% shareholder in its subsidiary, Vale Base Metals. The $3.4bn deal was the third-biggest M&A transaction of the year, according to a GlobalData report that puts the total value of M&A deals in the sector in 2023 at $121bn. 

Meanwhile, this month's exclusive 14-page market report highlights Egypt, which faces both political and economic trials. In an increasingly difficult fiscal position, Egypt also finds itself sitting at the centre of regional conflict, with the situation in Gaza threatening to spill over onto Egyptian soil. Renewed IMF funding promises to solve one problem for Cairo, but there are plenty more waiting.

MEED's latest issue is packed with insight and analysis. The team examines the IMF's downgrade of its Mena growth forecast; looks at the utility infrastructure schemes taking shape at Saudi Arabia's Neom; and assesses the rise in military spending in the region following geopolitical instability. 

In this month's industry report on upstream oil and gas, we predict that after a record year for offshore projects in 2023, the momentum will continue this year with further robust spending. 

The March issue also includes interviews with Rua Al Madinah Holding CEO Ahmed Al Juhani and Hill International CEO Raouf Ghali.

We hope our valued subscribers enjoy the March 2024 issue of MEED Business Review


Must-read sections in the March 2024 issue of MEED Business Review include:

AGENDA: Saudi Arabia transforms mining sectorMergers soar in global mining sector

> CURRENT AFFAIRS: IMF downgrades Mena growth forecastThe world is heading for massive LNG oversupply

> INSIGHT: IEA downgrades green hydrogen growth forecast

> SAUDI ARABIA: Neom’s utility projects take shape

Upstream oil and gas
Offshore spending to remain robust in 2024

> Aramco continues its hunt for hydrocarbons


> MILITARY BALANCE: Instability drives up defence budgets

> INTERVIEWS: Driving Madinah’s economic developmentSaudi project win caps record year

> SAUDI TOURISM: Saudi tourism numbers cross 100 million

> LOGISTICS: Aramco and DHL form joint logistics company

Cairo beset by regional geopolitical storm
More pain for more gain for Egypt
Egypt oil and gas project activity declines
Familiar realities threaten Egypt’s energy hub ambitions
Egypt’s desalination projects inch forward
> Infrastructure carries Egypt construction

Abha airport PPP is a brave new project

Riyadh directive casts doubt on key Aramco projects
PIF steps in to save construction again
Corruption case comes at key time for Saudi projects

> GULF PROJECTS INDEX: UAE drives further projects growth

> JANUARY 2024 CONTRACTS: Region begins year with a record $30.5bn-worth of contract awards

> MARKET SNAPSHOT: Mena construction insights

> OPINIONSyria’s long march in from the cold

BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts

To see previous issues of MEED Business Review, please click here

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