SOHAR Port and Freezone has commenced dredging operations for the $1.6 billion Marsa LNG project, aiming to po ..Read More

SOHAR Port and Freezone has commenced dredging operations for the $1.6 billion Marsa LNG project, aiming to position SOHAR as the Middle East’s first LNG bunkering hub. Led by Boskalis’ advanced dredgers, the operation will remove 4 million cubic meters of material to develop key maritime infrastructure, ensuring completion by September 2025. Marsa LNG will produce 1 million metric tons of LNG annually, powered by a 300 MW solar plant, supporting Oman’s carbon neutrality goal by 2050 and reinforcing SOHAR’s role in sustainable maritime growth and global trade.
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• Oil & Gas

Alghanim Industries has broken ground on a new 256,000 sqm Kirby Building Systems facility in Sudair Industria ..Read More

Alghanim Industries has broken ground on a new 256,000 sqm Kirby Building Systems facility in Sudair Industrial City, Saudi Arabia, with an annual production capacity of 100,000 metric tons each of structural steel and PEB. This investment supports Vision 2030 by boosting Saudi Arabia’s export capabilities and positioning the Kingdom as a global hub for high-quality steel structures. The facility will create local employment, enhance expertise in steel fabrication, and supply international markets across the GCC, Africa, India, and Southeast Asia.
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• Manufacturing

MODON, in collaboration with NCP, has launched an EOI for the Logistics Zone Development in Dammam 2nd Industr ..Read More

MODON, in collaboration with NCP, has launched an EOI for the Logistics Zone Development in Dammam 2nd Industrial City under a PPP (DBFOMT) model for 30 years. Spanning 850,000 sqm, the project will enhance Saudi Arabia’s logistics infrastructure, supporting Vision 2030. The private sector partner will finance, design, build, operate, and commercialize modern logistics and warehousing facilities, boosting trade and industrial expansion.
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• Construction
• PPP

ACWA Power, SEC, and Haji Abdullah Alireza & Co. signed a SAR 13.4 billion PPA with SPPC for the Qurayyah IPP ..Read More

ACWA Power, SEC, and Haji Abdullah Alireza & Co. signed a SAR 13.4 billion PPA with SPPC for the Qurayyah IPP Expansion Project, a 3,010 MW CCGT power plant in Saudi Arabia’s Eastern Province. The 25-year project, with 40% stakes each for ACWA and SEC, includes carbon capture readiness and aims to enhance power generation efficiency, support Vision 2030, and reduce reliance on liquid fuels.
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• Power
• PPP

ACWA Power signed a $693 million Share Purchase Agreement with ENGIE to acquire 4.61GW of gas-fired power and ..Read More

ACWA Power signed a $693 million Share Purchase Agreement with ENGIE to acquire 4.61GW of gas-fired power and 1.11 million m³/day of desalination assets in Kuwait and Bahrain. The deal includes stakes in Az Zour North (18%), Al Ezzel (45%), Al Dur (45%), and Al Hidd (30%), along with O&M companies. This acquisition aligns with ACWA Power’s goal of tripling assets to $250 billion by 2030, pending regulatory approvals. Goldman Sachs Saudi Arabia acted as the financial advisor.
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• Power

vEnerMech secured a five-year contract extension with North Oil Company (NOC) to provide leak testing and flan ..Read More

vEnerMech secured a five-year contract extension with North Oil Company (NOC) to provide leak testing and flange management services at Qatar's Al Shaheen Oil Field, reinforcing their relationship since 2017. The contract includes bolt tensioning, torquing, pipe freezing, and training, leveraging EnerMech’s in-depth knowledge of NOC’s assets. CEO Chuck Davison and Regional Director Dan Collins highlighted the Qatar team’s expertise and commitment, positioning EnerMech for continued growth in the region.
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• Oil & Gas

Oman Environmental Services Holding Company (Be’ah) signed a RO 51 million financing agreement with Ahli Isl ..Read More

Oman Environmental Services Holding Company (Be’ah) signed a RO 51 million financing agreement with Ahli Islamic Bank to implement Phase 2 of the industrial waste treatment facility in Sohar Freezone. This phase includes developing hazardous waste treatment stations, enhancing chemical and physical treatment technologies, and establishing facilities for managing used oils and toxic waste. The project aligns with Oman Vision 2040 by boosting the national economy, generating jobs, supporting industrial projects, and contributing to sustainability and the circular economy.
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• Finance

ELSEWEDY ELECTRIC PSP has been awarded the Jawharat Al Aros 110/13.8 kV Substation project in Jeddah, Saudi Ar ..Read More

ELSEWEDY ELECTRIC PSP has been awarded the Jawharat Al Aros 110/13.8 kV Substation project in Jeddah, Saudi Arabia, featuring Siemens SF6-free Blue GIS technology, reducing environmental impact. This marks ELSEWEDY’s third substation project with National Grid SA, following Riyadh and Naqua substations. The company will handle design, procurement, construction, and commissioning, reinforcing Saudi Arabia’s energy infrastructure and supporting Vision 2030.
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• Power