Oman boosts value of deals let in the region
Contract awards spiked in the Middle East during August thanks to a busy month for Oman. The sultanate awarded a $5.9bn of deals, mostly related to the much-anticipated Duqm refinery project. This took the total value of contract awards in August to $15bn, nearly double the $7.9bn seen in July.
August contract awards by country | |
---|---|
Country | Award ($m) |
Bahrain | 270 |
Egypt | 1,818 |
Iran | 1,878 |
Iraq | 30 |
Jordan | 30 |
Kuwait | 886 |
Lebanon | 580 |
Oman | 5,850 |
Qatar | 415 |
Saudi Arabia | 425 |
UAE | 2852 |
Omans Duqm Refinery & Petrochemical Industries Corporation awarded the three main engineering, procurement and construction contracts for its 230,000 barrel-a-day (b/d) Duqm refinery, the largest single-phase project undertaken in the sultanate. Together the awards totalled $5.7bn, making Oman the most active market in August.
In contrast to Oman, Saudi Arabia, Kuwait and Qatar recorded a drop in the value of deals let in August compared with the previous month. The kingdom signed $425m of contracts, down from $1.5bn in July. Kuwait inked $886m of deals, compared with $1.3bn the month before, while Qatar signed $415m of contracts in August, compared with $896m in July.
The UAE market stayed flat, with $2.9bn of deals in August, similar to the value awarded in July.
Outside the GCC, Egypt and Iran contributed to the spike in the value of contracts let in August, with Egypt signing $1.8bn of deals and Iran $1.9bn. The largest contract inked in Egypt was the $1.2bn deal awarded to a consortium of Chinese firms to build a light rail transit in 10th of Ramadan City. The biggest deal in Iran, and the only one awarded in the country in August, was the $1.9bn contract given to a team of South Koreas SK Engineering & Construction and Irans Oil Design Construction Company to upgrade the 110,000-b/d Tabriz refinery in northern Iran.Looking ahead, the Qatar crisis seems set to continue for the indefinite future; UK consultancy Mace says Qatars construction sector has yet to feel the full impact of the blockade.
Data from regional projects tracker MEED Projects indicates there are $45.8bn of projects in the region at the main contract bid stage, with another $808bn under study.
Contract awards as reported on meedprojects.com | |||
---|---|---|---|
Country | Project | Industry | Contract value ($m) |
UAE | Dubai RTA - Expo 2020 Development : Expo Interchange (Contract No. R1048/4) | Transport | 172 |
Qatar | ASHGHAL - East Industrial Road Between Al Muntazah Street and West Corridor | Transport | 200 |
UAE | DIFC - Temporary Roads and Carparking | Transport | 10 |
UAE | Al Zahia - Al Lilac Development | Construction | 180 |
Kuwait | National Guard - Multistory Car Park at Al Tahreer Camp | Transport | 18 |
Saudi Arabia | NWC - South Dhahran Sewage Treatment Plant | Water | 71 |
Bahrain | Diyar Al Muharraq / Eagle Hills - Marassi Shore Residences | Construction | 270 |
UAE | Borouge - Polyethylene Unit PE-3 Revamp Project (PO/000637) | Chemical | 120 |
Qatar | Qatar Ministry Of Transport - Marine Public Transport Ferry Terminal | Transport | 119 |
UAE | Private Developer - Mirdif : Shopping Mall (Plot No. 2514369) | Construction | 10 |
Iran | Tabriz Oil Refining Co - Tabriz Refinery Upgrade | Oil | 1,878 |
UAE | Damac Properties - Akoya Oxygen: 1296 Villas | Construction | 171 |
UAE | Private Developer - The Villages : Residential Building (Plot RB-32) | Construction | 12 |
Egypt | EETC - 500/220 kV Substation at Abu El Matamir | Power | 80 |
Egypt | NAT - Light Rail Transit : LRT Line (66 kms) | Transport | 1,240 |
Oman | RAECO / Masdar - Harweel Wind Farm | Power | 100 |
UAE | Meydan - Jumeirah Beach Residence : Corinthia?at Meydan Beach | Construction | 160 |
UAE | Nakheel Corporation - Deira Island: Sewage Treatment Plant (DMS 145569) | Water | 24 |
Egypt | EETC - 220 KV Al Narges Substation | Power | 18 |
Egypt | EETC - North Hurgada Substation & El Qusair OHTL Interconnection | Power | 43 |
UAE | DWTC / Emaar Properties - Project Star : Phase 1 | Construction | 98 |
UAE | Emaar Properties - Dubai Creek Harbour: District Cooling Plant - DCP 02 | Water | 40 |
UAE | ARADA - Nasma Residences : Phase 1 | Construction | 40 |
Saudi Arabia | Saudi Arabia Ministry of Defense & Aviation - Rehabilitation of Jetties | Transport | 101 |
UAE | Al Qudra Holding - Commercial and Residential Towers (Plot No C31-C32) | Construction | 40 |
Oman | Daleel Petroleum Company - Well Hookups and Flowlines in Daleel Field | Oil | 80 |
Oman | Duqm Refinery - Duqm Refinery: Offsite Facilities (EPC 3) | Oil | 900 |
Qatar | Private Developer : Energy City - Office Building On ECQ Plot C10 Lusail | Construction | 15 |
UAE | DMW - Al-Dhafra Air Base (MW-AF-128 & 129) | Transport | 180 |
UAE | Gulf Paradise Real Estate - Saadiyat Island : Mixed Use Development (Plot no.C2) | Construction | 30 |
Qatar | Qatar University - New Student Affairs Building | Construction | 70 |
UAE | ICD - One Zaabeel | Construction | 800 |
Egypt | APA - Multi-Storey Garage | Transport | 16 |
Saudi Arabia | AFMS - Expansion of Prince Sultan Bin Abdulaziz Armed Forces Hospital | Construction | 43 |
UAE | Horizon Terminals- Jebel Ali Jet Fuel Pipeline: Package 3 | Oil | 50 |
UAE | Nakheel - 132/11kV Seif Deira Substation | Power | 25 |
UAE | Dubai RTA - Expo 2020 Development : Expo Interchange (Contract No. R1048/3) | Transport | 163 |
Oman | Duqm Refinery - Duqm Refinery: Offsite & Utilities (EPC 2) | Oil | 2,000 |
Oman | Oman Charitable Organization - Financial Building at Al Seeb (Phase 6) | Construction | 20 |
Jordan | WAJ - Extension of Waleh Dam | Water | 30 |
Egypt | EETC - Solar PV Plant (3) in Benban | Power | 152 |
UAE | Private Developer - JVC : Residential Building (Plot No: JVC10SMRP200) | Construction | 10 |
UAE | Fujairah Port - Service Harbour Marine Works and Buildings | Transport | 100 |
Kuwait | Kuwait Awqaf Public Foundation - Seera Complex (1/2015-2016) | Construction | 88 |
Saudi Arabia | Armed Forces Medical Services - Rehabilitation of Arm Forces Hospital | Construction | 25 |
Egypt | EETC - Over Head Transmission Lines (500KV) | Power | 80 |
Kuwait | KAPP / Kuwait Municipality - Kabd Municipal Solid Waste Project | Power | 780 |
Oman | Duqm Refinery - Duqm Refinery: Process Unit (EPC 1) | Oil | 2,750 |
Egypt | EETC - 500/220 kV Substation at Samanoud | Power | 80 |
UAE | Nakheel - Diera Islands : 132kV South Deira Island A Substation | Power | 25 |
UAE | Private Developer - Khalidia Palace Hotel at Al Muraqqabat (Plot No. 1240578) | Construction | 56 |
Saudi Arabia | SEC - 380/110/13.8kV Jeddah University BSP (Rfx no:4000055645) | Power | 70 |
Iraq | Shamara Group - Rumaila Power Plant : 400kV Air Insulated Switchgear Substation | Power | 30 |
UAE | Eshraq Properties - Al Reem Island : Marina Rise Tower | Construction | 39 |
Egypt | CEPC - Upgradation of Cairo North Combined Cycle Power Station : Module I | Power | 109 |
UAE | Lulu Group - Y Tower | Construction | 55 |
Saudi Arabia | NWC -Water Transmission Lines for Waad Al Shamal Development Project-Lot 4 | Water | 80 |
Saudi Arabia | Namariq Arabian Services Co. Ltd - Yanbu Industrial City : Namariq RCY Residency | Construction | 35 |
UAE | MOID - Al Muntazi Residential Complex : 247 Villas | Construction | 74 |
UAE | Dubai RTA - Improvement of Al Awir Road & International City Accesses (R1005/2) | Transport | 52 |
Lebanon | CDR - Bisri Dam | Water | 580 |
UAE | Al Garhoud Real Estate Company - Hotel Building (Plot Number : 3460762) | Construction | 116 |
Qatar | Private Developer - Villas Compound (27 Villas) | Construction | 11 |
Total | The full value for 63 projects across the Mena region | 15,034 | |
Data from meedprojects.com as of 4 September For more information, visit MEED Projects http://www.meedprojects.com/home |
Read previous contract awards.
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