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Wednesday, 26 October 2016 08:01
Tuesday, 25 October 2016 10:08
Doosan Bobcat has delivered 20 new Bobcat E20 compact excavators supplied by International Heavy Equipment LLC (IHE) to Oman National Engineering & Investment Co. (SAOG), touted to be first mini-excavators...
Monday, 24 October 2016 08:13
Ali bin Masoud Al Sunaidy, Oman’s minister of commerce and industry, said that the government is focused on establishing the public–private partnership (PPP) framework to solve funding challenges and attract...
Thursday, 20 October 2016 07:57
Thursday, 20 October 2016 07:10
Thursday, 20 October 2016 06:54
Thursday, 20 October 2016 06:01
The recent announcement of new projects signals a steady flow of investments into sectors like infrastructure and manufacturing, which is set to generate contracts for regional steel fabricators in the...
Wednesday, 19 October 2016 07:41
Wednesday, 19 October 2016 06:30
Wednesday, 19 October 2016 06:17
Wednesday, 19 October 2016 03:44
Tuesday, 18 October 2016 07:23
State-of-the-art manufacturing facility to produce pumps, among other technologies, and provide localized and integrated services to local, regional customers Xylem, a leading global water technology company dedicated to solving the world’s...
Tuesday, 18 October 2016 07:06
Monday, 17 October 2016 05:54
Sunday, 16 October 2016 11:31
Thursday, 13 October 2016 07:52
Saudi Arabia will grant approval for US$200bn worth of projects in the Middle East and Northern Africa (MENA) region during Q3 2012-2013, according to a new report
The country ranks first for active construction, with 1,026 projects costing $1.1 trillion currently in progress, representing the largest construction market in the MENA region.
The Bank of America Merrill Lynch report, which assessed Meed contract awards data, revealed the majority of projects will be awarded in Saudi Arabia, (53.7 per cent) followed by the UAE, Qatar and Egypt.
The total pipeline of construction and infrastructure project awards for the four countries stands at $157 billion and $110 billion (41.9 per cent and 29.5 per cent of the total, respectively), according to the report.
In Saudi Arabia, the pipeline of construction and infrastructure project awards are $90 billion and $39 billion, respectively (45 per cent and 19 per cent of the total).
Kuwait and Iraq construction in particular pushed down the total although year-to-date contract awards in the UAE, Qatar and Saudi Arabia increased by 25 per cent to $41bn, the report said.
During the past year, Egypt saw the largest number of projects cancelled and postponed while Qatar experienced the biggest rise in projects entering tender mode.
The UAE market has now transformed positively regarding its previous problem of severe project rationalisation and cancellations. $450bn worth of projects were put on hold between March 2010 and October 2011.