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The new incentives focus on reducing financial barriers during the critical early stages of project development

Energy

Hydrom, the authority driving Oman’s national Green Hydrogen Strategy, has announced a fresh set of fiscal incentives aimed at enhancing the commercial viability of projects participating in the country’s third green hydrogen auction round.

The measures reflect feedback from a market sounding exercise earlier this year and respond to evolving global hydrogen market trends, reinforcing Oman’s reputation as one of the world’s most structured and investment-ready hydrogen ecosystems.

Supportive fiscal framework for early-stage projects

The new incentives focus on reducing financial barriers during the critical early stages of project development. Developers will benefit from a 90% reduction in land lease fees during the development stage, with the possibility of further reductions during the Front-End Engineering Design (FEED) phase.

In addition, base royalties will be significantly lowered during the first years of production, and corporate tax exemptions of up to 10 years will be available.

These measures are designed to improve project economics, increase internal rates of return, and accelerate progress toward final investment decisions.

Flexible and scalable auction structure

Oman’s third green hydrogen auction round offers a land block of up to 300 sq km in Duqm, with minimum project sizes set at 100 sq km.

Bidders have the flexibility to define the footprint of their projects within the block, allowing them to tailor development plans to match individual strategies and market needs. This approach ensures both transparency and scalability, attracting a wide range of potential investors and developers.

Strong market interest

The auction has already drawn significant attention, with nearly 100 registrations from leading industry players and consortia spanning the green hydrogen value chain. This robust response underlines the growing interest in structured, policy-backed green hydrogen investment opportunities.

Round 3 continues to attract first movers and institutional investors eager to establish or expand their presence in a competitive and well-regulated market.

Encouraging participation and consortium building

The Statement of Qualification (SoQ) submission window remains open until 31 October 2025. Hydrom encourages all interested participants to register and submit their documents through the dedicated online platform.

To support the creation of strong project consortia, Hydrom will also release an updated consortium matchmaking list, a tool that has successfully connected qualified participants with strategic partners in previous rounds.

By combining a supportive fiscal framework, flexible auction design, and tools to facilitate collaboration, Hydrom is setting the stage for accelerated growth of Oman’s green hydrogen sector while attracting global investment.

Focus areas included sludge and odour management. (Image source: TAQA Water Solutions)

Water

A senior delegation from TAQA Water Solutions has completed a technical tour of Denmark organised by the Water Efficiency Middle East Alliance (WEMA) and supported by the Danish Trade Council, aiming to advance knowledge sharing around sustainable water infrastructure.

Held at a time of heightened focus on water security across the GCC, the visit connected Emirati and Danish water sector leaders to exchange proven strategies for wastewater reuse, energy optimisation, and circular economy practices. The tour aligned with key regional frameworks, including the UAE Water Security Strategy 2036, Net Zero 2050, and Saudi Vision 2030.

With Denmark widely recognised as a pioneer in sustainable utilities, TAQA representatives were given access to in-depth case studies and operational insights that hold strong relevance for Middle Eastern utilities working to meet rising demand with lower environmental impact.

Throughout the visit, TAQA executives engaged directly with Danish utilities, technology companies, and research institutions. Roundtable discussions and site visits were hosted by WEMA member companies such as Grundfos, Danfoss, DHI, NIRAS, Aquaterra, AVK, Watopi, and Aarhus Vand.

Focus areas included sludge and odour management, advanced wastewater reuse, energy-efficient pumping systems, stormwater resilience, and smart digital platforms to improve asset performance.

A highlight of the programme was a dedicated knowledge session with BIOFOS, Denmark’s largest wastewater utility, and Aarhus Water Utility, which is at the forefront of customer-centric water services and climate-adaptive infrastructure.

Groundwork for collaboration

The visit identified clear pathways for deeper technical cooperation, including feasibility assessments for Danish technologies in the GCC and potential pilot projects that demonstrate real-world impact.

TAQA Water Solutions outlined key priorities such as enhancing operational energy efficiency, solving infiltration challenges, and managing complex large-scale pumping requirements, areas where Danish innovation can play a significant role.

As WEMA continues to bridge connections between the Gulf and global water leaders, the mission underlined how structured knowledge exchange can unlock scalable solutions for more resilient, efficient, and future-ready water networks in the region.

“This delegation was more than a visit, it was a strategic exchange of ideas, technology, and shared ambition,” said Astrid SC Nielsen, the Danish Trade Council, Dubai. “TAQA Water Solutions’ commitment to innovation, coupled with Denmark’s decades of water expertise, are the seeds for impactful, long-term collaboration.”

“At TAQA Water Solutions, we have experienced firsthand how innovation profoundly drives comprehensive sustainability. It extends far beyond merely securing vital water and energy systems; it is the fundamental cornerstone reinforcing a resilient circular economy. This strategic imperative ensures that every precious drop is meticulously collected, expertly treated, and purposefully reused, thereby setting new benchmarks for responsible resource management and ensuring a water-secure future,” said Eng. Ahmed Al Shamsi, CEO of TAQA Water Solutions.

He added, “As part of TAQA Group's commitment to providing energy and water to communities worldwide, TAQA Water Solutions drives sustainable development and secures global water resources through strategic investments and collaborative partnerships in markets of growth. This visit exemplifies this mission, evolving beyond a technical exchange, profoundly deepening our shared commitment to advancing sustainable water solutions globally. We are grateful for the generous knowledge-sharing and the invaluable opportunity to learn from a community that has seamlessly integrated sustainability into its daily life, underscoring our belief that innovation truly thrives through reciprocal collaboration.”​

Also read: How does the UAE support island nations' water security?

The project will include upgrading the 50 km road link to the site. (Image source: UCC Holding)

Construction

Syria has signed a memorandum of understanding with a Qatar-led consortium to redevelop and expand Damascus International Airport.

Valued at more than US$4bn, the agreement marks one of the largest foreign investments in Syria’s infrastructure in decades.

The five-company consortium is headed by Qatar’s UCC Holding and includes Assets Investments USA LLC (United States), as well as Turkish firms Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen.

The partners will carry out the airport project under a build-operate-transfer model over five phases, ultimately targeting an annual capacity of 31 million passengers.

The signing ceremony was held in Damascus in the presence of Mr. Tom Barrack, the U.S. Special Envoy to Syria, Qatari Embassy officials, senior government representatives, and other diplomats.

The project aims to enhance Syria'a global connectivity and revitalise the nation’s economy, trade, and tourism sectors, according to UCC. 

FDIs

Construction will proceed in stages, with capacity to reach 6 million passengers in the first year and 16 million by the second phase, ultimately scaling to 31 million passengers annually.

The new facility will meet international aviation standards (ICAO and IATA), and include up to 32 gates with modern boarding bridges, a fully integrated air navigation system, and a high-end duty-free area with international retail and dining brands.

In addition to the airport itself, the project will include upgrading the 50 km road link to the site and a US$250mn investment in 10 new Airbus A320 aircraft for Syrian Airlines, aimed at revitalising the national carrier’s fleet and competitiveness.

Consortium partners bring extensive global experience in airport development and operations, having contributed to major projects such as Istanbul New Airport, Cairo International Airport Terminal 3 expansion, and airports across Turkey, Saudi Arabia, Georgia, Tunisia, North Macedonia, and beyond.

The project is expected to generate over 90,000 direct and indirect jobs, stimulating economic growth across multiple sectors and positioning Syria as a strategic aviation hub in the Middle East.

Mohammad Moutaz Al-Khayyat, chairman of UCC Holding, said, “At UCC Holding, we believe that the success of projects of this magnitude requires the integration of global expertise with a deep understanding of local market needs—a principle we aim to apply in every stage of implementation.”

Ramez Al-Khayyat, president and group CEO of UCC Holding, said, “This project is not just about redeveloping Damascus International Airport; it is a strategic bridge carrying Syria toward a future of recovery and prosperity. We are investing in a sustainable development vision that enhances trade and tourism, connects Syria to the world at the highest standards, and stimulates economic growth and investment across all sectors. Leveraging Syria’s strategic location and our extensive local and regional partnerships, Damascus International Airport will become a model for advanced, smart transportation projects in the region.”

Sani Şener, chairman of TAV, said, “We view this project as a strategic investment opportunity that goes beyond infrastructure development. It is a gateway to revitalising the Syrian economy and reintegrating it into regional and global trade and investment flows. We bring to this investment our accumulated expertise in developing and operating major transportation projects to deliver a world-class airport that enhances the efficiency of the aviation sector, boosts the attractiveness of the Syrian market to global capital, and paves the way for a new era of growth and stability.”

he transaction was completed under a binding share purchase and subscription agreement.

Mining

Alcoa Corporation has finalised the sale of its 25.1% stake in the Ma’aden joint venture to Saudi Arabian Mining Company (Ma’aden), marking a strategic exit from the integrated mining complex the two companies launched in 2009.

The transaction was completed under a binding share purchase and subscription agreement.

In exchange, Alcoa received around 86 million Ma’aden shares, valued at approximately US$1.2bn, alongside US$150mn in cash, which will primarily be used to cover taxes and transaction costs.

The company expects to report a gain of roughly US$780mn under other income for the third quarter of 2025.

In line with past asset sales, this gain will be recorded as a special item.

Saudi mining growth

Alcoa, which is based in Pittsburgh in Pennsylvania, is a global leader in bauxite, alumina, and aluminium products. It will now hold an estimated 2% of Ma’aden’s outstanding shares.

As stipulated in the agreement, these shares must be retained for a minimum of three years, with one-third eligible for sale after each of the third, fourth, and fifth anniversaries of the transaction’s closing.

However, under certain conditions, Alcoa is allowed to hedge or borrow against the shares during the holding period, and the lock-up may be reduced in specific scenarios.

The Ma’aden joint venture, established as a fully integrated aluminium production complex in Saudi Arabia, comprises the Ma’aden Bauxite and Alumina Company (MBAC) and the Ma’aden Aluminium Company (MAC).

Prior to the deal, Ma’aden held a 74.9% majority stake.

Citi served as Alcoa’s exclusive financial advisor for the transaction, while legal counsel was provided by White & Case LLP.

“While today marks the end of the Joint Venture, the closing of this transaction demonstrates the initial value to our shareholders and enables visibility within Alcoa’s financials until we monetize in the future,” said William F. Oplinger, Alcoa’s president and CEO.

“I thank Ma’aden’s leadership and the Kingdom of Saudi Arabia for their partnership over the last 16 years, and we look forward to continued engagement as Ma’aden shareholders.”

Also read: Power Metallic gets licensed to explore Saudi mineral belt



The project is forecast to contribute US$5-6bn to the UAE’s GDP. (Image source: RAKEZ)

Manufacturing

Ras Al Khaimah Economic Zone (RAKEZ) has signed a landmark partnership with India’s Rana Group to launch the Erisha Smart Manufacturing Hub, a transformative project aimed at advancing the region’s industrial and sustainability landscape.

The collaboration supports the Middle East and Africa expansion of Rana Group’s EV arm, Erisha E Mobility, while reinforcing its business base in India.

Spanning 15 million ft² with a construction area of roughly 25 million ft², the hub will support more than 150 industries and focus on future-forward technologies, including electric and hydrogen vehicles, renewable energy, EVTOL aircraft, and semiconductor production.

The integrated development, covering 335 acres, will blend industrial, residential, and commercial infrastructure, featuring hospitals, medical colleges, shopping centres, hypermarkets, offices, warehouses, and financial institutions.

Creating job opportunities

With an expected investment of US$10bn, the project is forecast to contribute US$5-6bn to the UAE’s GDP and create approximately 4,000 jobs in Ras Al Khaimah.

Erisha E Mobility chairman and managing director Dr Darshan Rana commented, “We are thrilled to partner with RAKEZ and bring Erisha Smart Manufacturing Hub to life. This project will be at the forefront of the green energy revolution, contributing significantly to the UAE’s net zero ambitions and creating a self-sustainable future. Our goal is to set new benchmarks in sustainable industrialisation, driving innovation while supporting the global transition to cleaner energy solutions.”

RAKEZ group CEO Ramy Jallad said, “Ras Al Khaimah continues to establish itself as a fertile base for technological innovation and sustainable development. With its robust infrastructure, strategic location, and dynamic business environment, the emirate is well-positioned to support forward-thinking initiatives like Erisha Smart Manufacturing Hub.

While this integrated Hub will drive economic diversification, it will also create thousands of new jobs, promoting long-term growth and reinforcing Ras Al Khaimah’s leadership in green energy and advanced manufacturing.”

In a press statement, the companies said, "This partnership underscores a shared commitment to driving sustainability, innovation, and economic growth. RAKEZ, with its world-class infrastructure and commitment to fostering business success, provides the ideal platform for Erisha E Mobility’s global expansion, ensuring that the Hub will be a catalyst for progress in the UAE and beyond."

Earlier this month, RAKEZ partnered with UAE-based fintech firm Peko to introduce a suite of automated services designed to simplify daily business operations. Accessible through RAKEZ’s client portal, the tools cover invoicing, payroll, utility payments, and business travel bookings, which offer small and medium businesses enhanced convenience and operational control.

Also read:

RAKEZ Growth Series wraps up 2024 with strategies for sustained success

RAKEZ oversees agreements with Chinese firms

Revolutionising industry with sustainable, advanced technology

 

New Iveco vehicles at the Madrid truck plant (Image source: Iveco)

Logistics

A familiar brand in the region, IVECO celebrates its 50th anniversary in 2025. Shahram Falati, business director for Africa & Middle East, talked to Technical Review Middle East about what to expect next.
 
It is 50 years since the foundation of truck builder IVECO in 1975, when five leading European industrial vehicle manufacturers came together to lead the way in the transport sector. Today, it is a truly global player, with a manufacturing footprint that includes seven production sites and eight research and development centres spread across Europe, Asia, Africa, Oceania and Latin America. Its sales and services footprint spans 3,500 outlets, supporting customers in over 160 countries.
 
To mark the anniversary, IVECO is hosting a series of events throughout 2025, inviting Technical Review Middle East to its Madrid truck plant to speak with Shahram Falati, business director for Africa and the Middle East.
 
As well as honouring the past and celebrating the present, he was keen to highlight the opportunities ahead, including the possibility of new assembly plants in Nigeria and South Africa. The company already has a depot in South Africa, and in Ethiopia, but recognises the huge long-term potential the continent presents.
 
“We are seeing an increased requirement by some countries to introduce local industrial activity,” said Falati. “We have a history of assembly projects in the Middle East and Africa area, so we embrace such requests. We have already inaugurated a new assembly plant in Saudi Arabia and are currently looking at a project in Algeria and South Africa.”
 
There are plans to further highlight the quality differential of the brand too. “We are also strengthening our sales activities in fields where we see high potential for our vehicles, such as our all-wheel offerings, 4x4 and 6x6 and so on, for off-road missions. On top of this, we have plans on facing the tough competition coming from Chinese brands by campaigns which aim at more client awareness on the differences between the various products and services.”
 
IVECO is investing heavily in future technology, including zero emission engines and bio-fuels, and is keen to introduce what is already being achieved in Europe into Africa and the Middle East.
 
“Currently our product offering covers all market needs. In fact, we have Euro3 technology on all our ranges from Light to Medium and Heavy Duty. Some of our markets have already transitioned to Euro5 and we have a full range also with this emission level serving our wide customer base. Our current product launches are focused on technology improvements and upgrading of some models. This year we introduced the new Eurocargo Range with enhanced engine and comfort as well as a full Natural Gas Power lineup. Next year, we will also be seeing enhancements to our Daily range bringing us in line with our European offering.”
 
Major sectors where IVECO trucks are deployed include construction and mining, while oil and gas is also a growing market.
 
“We are fortunate that in our territory there is an abundance of opportunity and most of our markets have a growth outlook,” said Falati. “For example, in Morocco, the tourism industry is booming and the country will also host the 2030 World Cup. We see a high level of activity, especially on infrastructure, which is exciting as we have all the vehicles needed for these requirements. There is also activity in the commodity segment and the opening of new mines. To capture this highly-demanding client base, we have set up a special project team. We believe we have the correct off-road product offering, and with training of specialised salesmen, I am very optimistic about bridging the gap between demand and offer in this important segment.”