Doosan Enerability, South Korea, signed a USD 1.54 billion contract with a consortium of ACWA Power, SEC, and ..Read More

Doosan Enerability, South Korea, signed a USD 1.54 billion contract with a consortium of ACWA Power, SEC, and KEPCO to construct the 1,800 MW gas-fired combined cycle power plants, Rumah 1 (80 km from Riyadh) and Nairyah 1 (470 km northeast of Riyadh), in Saudi Arabia. The project, awarded by SPPC, will be completed by 2028 in collaboration with SEPCO-3, with electricity sold to SPPC for 25 years.
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• Power

L&T’s Water & Effluent Treatment (WET) business, in partnership with Spain’s Lantania, secured a $500 mill ..Read More

L&T’s Water & Effluent Treatment (WET) business, in partnership with Spain’s Lantania, secured a $500 million contract from ACWA Power to build the Ras Mohaisen Desalination plant in Saudi Arabia with a capacity of 300,000 m³/day. The project includes four water tanks (600,000 m³ total), a 132/33kV substation, and a 30 MW solar PV plant. The plant will supply drinking water to Makkah Al-Mukarramah and Al-Baha regions, benefiting one million people. This is WET’s second recent desalination order in Saudi Arabia, enhancing its Middle East presence.
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• Water

Diriyah Company, Saudi Arabia, secured a USD 1.6 billion (SAR 6 billion) financing agreement from Banque Saudi ..Read More

Diriyah Company, Saudi Arabia, secured a USD 1.6 billion (SAR 6 billion) financing agreement from Banque Saudi Fransi (BSF) to fund the Wadi Safar masterplan, a 62 sq km ultra-luxury residential development featuring hotels, a golf course, and leisure facilities. This follows a USD 2.13 billion (SAR 8 billion) construction contract awarded in July 2024 for the Royal Equestrian & Polo Club and four luxury hotels. Diriyah, supported by PIF, aims to create 178,000 jobs, attract 50 million annual visitors, and contribute USD 18.6 billion to Saudi Arabia’s GDP.
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• Construction
• Finance

NMDC Energy P.J.S.C., UAE, has received a letter of award for a local project valued at AED 9.7 billion. The p ..Read More

NMDC Energy P.J.S.C., UAE, has received a letter of award for a local project valued at AED 9.7 billion. The project will be executed on an engineering, procurement, and construction (EPC) basis over 57 months, commencing on 31 March 2025.
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• Oil & Gas

Siemens Energy secured a USD 1.6 billion contract, with Harbin Electric International as EPC contractor, to su ..Read More

Siemens Energy secured a USD 1.6 billion contract, with Harbin Electric International as EPC contractor, to supply key technologies for the 1.8 GW Rumah 2 and 1.8 GW Nairyah 2 gas-fired power plants in Saudi Arabia, expected to reduce CO2 emissions by 60%. Core components will be manufactured at Siemens Energy’s Dammam Hub, supporting Saudi Arabia’s energy transition towards net-zero by 2060. The plants will begin operating in simple cycle mode by 2027 and transition to combined-cycle mode by 2028.
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• Power

Diriyah Company launched its Media and Innovation District at MIPIM in Cannes, spanning 250,000 sq m of office ..Read More

Diriyah Company launched its Media and Innovation District at MIPIM in Cannes, spanning 250,000 sq m of office GFA, 450 residential homes, and 15,000 sq m of retail space, including the 325-room 1 Hotel Diriyah. The district will host global media and tech leaders, promoting sustainability and innovation. MIPIM 2025 also announced Armani Residences Diriyah with 15 curated homes by Giorgio Armani. As part of the $63.2 billion Diriyah masterplan, the project will create 178,000 jobs, attract 50 million visits annually, and contribute $18.6 billion to Saudi Arabia’s GDP.
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• Construction

Diriyah Company announced the launch of Armani Residences Diriyah, featuring 15 bespoke homes curated by Giorg ..Read More

Diriyah Company announced the launch of Armani Residences Diriyah, featuring 15 bespoke homes curated by Giorgio Armani, marking Armani’s debut in Saudi Arabia. Located in Diriyah Square, the residences range from 1,200 to 1,900 sq m, with luxury amenities, private pools, and exclusive access to Armani Hotel Diriyah’s facilities. Part of Diriyah’s growing branded residences portfolio, including Baccarat, Corinthia, Raffles, and Ritz-Carlton, this project aligns with Diriyah’s vision to house over 100,000 residents and enhance its luxury living offerings.
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• Construction

Dubai Electricity and Water Authority (DEWA) commissioned 13 new 132kV substations in 2024, with a conversion ..Read More

Dubai Electricity and Water Authority (DEWA) commissioned 13 new 132kV substations in 2024, with a conversion capacity of 1,950 MVA and 127 km of ground cables, serving areas like Al Athbah, Nadd Hessa, and Al Khawaneej 2. DEWA’s investments in 132kV transmission projects reached AED 2.1 billion, bringing the total number of 132kV substations to 360, with 37 under construction. This expansion supports Dubai’s urban growth, aligning with the Dubai Economic Agenda D33 and Dubai 2040 Urban Master Plan.
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• Power