A total of 70 contracts were let in January, with a value of about $16.8bn, according to regional projects tracker MEED Projects. Several agreements were also signed across the region, suggesting more awards will follow.
The biggest awards by sector were made in construction, with more than $6.8bn-worth of deals, followed by power. The biggest individual contract awarded was for the Dairut independent power project (IPP) in Egypt, valued at $2bn. By value, the UAE construction industry took the largest share, followed by Omans power sector.
In Egypt, more than 21 deals were signed between Egypts President Abdul Fattah al-Sisi and Chinas President Xi Jinping.
Meanwhile, Algerias contract award for a trans-shipment port is unusually large for the country, and the agreements with the Asian contractors will enhance the movement of goods and increase the countrys assets.
- Chinas Shanghai Ports Group will be managing the planned trans-shipment port
- Port to feature 23 docks capable of processing 6.5 million 20-foot containers and 26 million tonnes of goods a year
- Contract is valued at an estimated $3.3bn
- The project has a seven-year construction timeline, with initial services to commence within four years
Algerias Transport Ministry has signed a contract worth an estimated $3.3bn with two Chinese contracting firms for the design-and-build of a major trans-shipment port located between the cities of Cherchell in Tipaza and Tnens in Chlef.
The port is envisaged to feature 23 docks capable of processing 6.5 million 20-foot contrainers and 26 million tonnes of goods a year.
The Transport Ministry expects annual port traffic in Algerias central region to peak to 35 million tonnes or 2 million 20-foot equivalent units (TEUs) by 2050.
- Team of Arabtec and TAV wins Bahrain airport construction deal
- Existing airport accommodated more than twice its passenger-handling capacity in 2014
- Abu Dhabi Fund for Development is providing funding
Contractors have also been appointed for specialist systems. They are China International Marine Containers for the passenger air bridges; Venderlande of the Netherlands for the baggage-handling system; US-based L3 Communications for the security screening equipment; and Finlands Kone for the moving walkways, escalators and elevators.
A contract was also awarded to Frances SETEC for the design of a maintenance, repair and overhaul (MRO) facility.
Once completed, the expansion will increase the airports capacity to 14 million passengers a year.
- Deal is worth $328.8m
- GE will install power equipment under fast-track programme
- US firm will install equipment at 10 sites around the country
The total value of the contracts signed was more than $1bn, with financing already in place for the first stage of projects, which are worth $328.8m. The projects will add an additional 700MW capacity to the grid, to boost electricity capacity in Iraq.
In August 2015, Iraqs Electricity Minister Qassem al-Fahdawi said peak demand in the summer had reached 21,000MW while peak output was only 13,400MW.
Read previous contract awards