Parsons announced $475 million in new contracts as part of its Q4 2024 results. In Saudi Arabia, it secured tw ..Read More

Parsons announced $475 million in new contracts as part of its Q4 2024 results. In Saudi Arabia, it secured two contracts worth $275 million with a three-year duration, booking the first option period in Q4 2024. In UAE, it won a $200 million follow-on program and construction management contract in Dubai. Total Q4 revenue rose 16% to $1.7 billion, driven by 14% organic growth and acquisitions, with strong gains in critical infrastructure protection and cyber markets.
Read Less

• Construction

REEF Luxury Developments has broken ground on REEF 1000 in Dubai Land Residential Complex, featuring the world ..Read More

REEF Luxury Developments has broken ground on REEF 1000 in Dubai Land Residential Complex, featuring the world’s first Sunken Balcony with outdoor cooling. The ceremony included planting the first of 126 olive trees, symbolizing sustainability. CEO Samer Ambar emphasized the project’s innovation and premium lifestyle offerings, aligning with Dubai’s vision for cutting-edge luxury living.
Read Less

• Construction

Baker Hughes signed an MoU with Kuwait Oil Company (KOC) to establish a research and development center in Kuw ..Read More

Baker Hughes signed an MoU with Kuwait Oil Company (KOC) to establish a research and development center in Kuwait, focusing on optimizing production using artificial lift, chemicals, and digital technology. The collaboration aims to address KOC’s technology challenges, develop national research capabilities, enhance local expertise, and promote economic growth and employment. Baker Hughes expressed pride in contributing to the progress of Kuwait’s oil and gas industry.
Read Less

• Oil & Gas

TrinaTracker, a subsidiary of Trinasolar, is establishing a 3GW solar tracker manufacturing facility in Jeddah ..Read More

TrinaTracker, a subsidiary of Trinasolar, is establishing a 3GW solar tracker manufacturing facility in Jeddah’s 3rd Industrial City, set to begin operations in Q1 2025. The factory, part of a land-lease agreement with MODON, supports Saudi Vision 2030 by boosting local renewable energy capabilities, creating jobs, and enhancing energy sustainability. The zero-emission facility will produce Vanguard solar trackers optimized for the region’s climate and improve delivery efficiency and service for MEA clients. This initiative strengthens TrinaTracker’s global footprint while advancing the region’s clean energy transition.
Read Less

• Manufacturing

ACWA Power signed an SAR 8.6 billion PPA with EETC to develop, own, and operate a 2.0 GW wind power plant in H ..Read More

ACWA Power signed an SAR 8.6 billion PPA with EETC to develop, own, and operate a 2.0 GW wind power plant in Hurghada, Egypt, under a 25-year contract. The project includes financing, construction, and operation. Earlier, in January 2025, ACWA Power and HAU Energy achieved financial close for the 1.1 GW Suez Wind Farm in Egypt.
Read Less

• Power
• PPP

Masdar, TotalEnergies, and EPointZero have signed a Framework for Action (FFA) agreement to enhance clean ener ..Read More

Masdar, TotalEnergies, and EPointZero have signed a Framework for Action (FFA) agreement to enhance clean energy access in Africa and Asia. Masdar and TotalEnergies will focus on sustainable electricity in Africa and clean energy projects in Southeast Asia, while TotalEnergies and EPointZero will support India’s decarbonization through solar, wind, and storage. Signed at the UAE-France High-Level Business Council in Paris on February 16, the FFA aims to drive energy transformation in emerging markets.
Read Less

• Power

ADNOC and Veolia signed an MoU at the UAE-France High Level Business Council to collaborate on water managemen ..Read More

ADNOC and Veolia signed an MoU at the UAE-France High Level Business Council to collaborate on water management. The partnership will leverage Veolia’s expertise across 44 countries to optimize water resources by analyzing water cycles, developing solutions, enhancing monitoring systems, and reducing water consumption. This initiative aligns with ADNOC’s commitment to sustainable water management while supporting communities and environmental protection.
Read Less

• Water

Oman LNG signed a 10-year Sale and Purchase Agreement (SPA) with Switzerland-based Mercuria to supply 800,000 ..Read More

Oman LNG signed a 10-year Sale and Purchase Agreement (SPA) with Switzerland-based Mercuria to supply 800,000 metric tonnes of LNG annually on a Free on Board (FOB) basis, starting in April 2025. This partnership reinforces Oman LNG’s role in ensuring reliable global energy supplies and supports Oman’s economic growth. The agreement also strengthens Mercuria’s position in the LNG trading sector, enhancing its ability to meet rising global energy demands.
Read Less

• Oil & Gas