Analysis Transport Saudi Arabia’s EV ambitions face ‘chicken and egg’ dilemma Few of the car enthusiasts who attended Tesla’s launch in Riyadh last month arrived in electric vehicles. Hundreds turned out for the much-heralded opening event in Riyadh, an indication that the furore around the Tesla brand and its owner Elon Musk has not crossed the Atlantic. Despite this, public enthusiasm for electric vehicles (EVs) in […] April 28, 2025
Transport Morocco launches 430km high-speed train project Morocco has started construction of the Kenitra-Marrakech high-speed rail line in the capital city of Rabat. This phase will add 430 kilometres of high-speed rail connecting Kenitra (an industrial centre on the coast in north-western Morocco) to the country’s economic hub, Casablanca, and further south to the historic city of Marrakech, serving the airports of […] April 28, 2025
Analysis Construction Quake lends urgency to Istanbul rebuild programme Istanbul, Turkey’s economic hub, has received a timely reminder that it is at the centre of a high-risk earthquake zone, having been rattled by a tremor of magnitude 6.2 on Wednesday. The hope is that the quake will jolt the city authorities into action to speed up a slow-moving building renewal scheme. Damage from the […] April 24, 2025
Opinion Infrastructure DP World port deal will be transformative for DRC The UAE is building economic corridors linking Africa to the world April 24, 2025
Infrastructure Morocco to borrow for World Cup rail and airport projects Morocco is planning to seek loans to fund multi-billion dollar rail and airport projects as it prepares to co-host the Fifa World Cup in 2030, according to a minister. The projects include a high speed train network linking the commercial capital of Casablanca on the Atlantic with Marrakesh and a new civilian airport in Casablanca, […] April 22, 2025
Petrochemicals China to build new industrial city in Iraq China will build an industrial city in the Karbala governorate to develop Iraq’s petrochemical sector, the official Iraq News Agency reported. Sepco Electric Power Construction Corporation, a subsidiary of state-run PowerChina, signed an agreement with Iraq’s ministry of industry and minerals to build four petrochemical plants within the Karbala Industrial City, according to Iraqi News, […] April 21, 2025
Infrastructure More suitors vie for Abu Dhabi’s district cooling business KKR and I Squared Capital are among global asset managers bidding for a district cooling business owned by Abu Dhabi’s Multiply Group, part of a $1.5 trillion empire overseen by one of the UAE’s most powerful sheikhs. District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have […] April 21, 2025
Infrastructure Egypt hires US company to modernise locomotives Egyptian National Railways has awarded three contracts worth more than $235 million to US company Progress Rail to modernise its rail locomotive fleet. The contracts include the modernisation of 1,000 diesel-electric locomotives valued at $185 million and a 15-year agreement to supply parts for 141 locomotives worth $42 million, the US Embassy in Egypt said […] April 14, 2025
Infrastructure Dubai takes step forward on $22bn sewage tunnel network Dubai Municipality has issued a request for proposals for the first two contracts of the $22 billion Dubai Strategic Sewerage Tunnels (DSST) project, according to a Dubai utilities official. The project aims to modernise Dubai’s sewerage system and has an estimated initial capital expenditure of AED30 billion ($8 billion) and a total lifecycle cost of […] April 10, 2025
Infrastructure Egypt secures France and EU funds to build infrastructure Egypt has signed agreements with France and the European Union (EU) worth €262 million ($290 million) to support its infrastructure projects. The agreements were signed this week during the visit of French President Emmanuel Macron to Egypt, local media reported. Cairo signed €132 million financing and grant agreements with the EU and the French Development […] April 9, 2025
Analysis Infrastructure Oil price raises $1 trillion question for Saudi Arabia Questions are being raised about the long-term future of Saudi Arabia’s trillion-dollar infrastructure strategy as oil prices hit a four-year low and global stock markets tumble, according to economists. For the world’s second-largest oil producer, much depends on the trajectory of crude prices. The price of Brent crude has fallen by about 13 percent to […] April 8, 2025
Infrastructure Next phase of Jordan-Iraq power link due by late July The second phase of a Jordan-Iraq electricity interconnection project is set for completion by the end of July, a news report has said. Almost 95 percent of the project’s civil works have been finalised, with installation of electrical equipment and essential testing remaining, Jordan News Agency reported citing Sufyan Batayneh, director general of the state-run […] March 31, 2025
Infrastructure Turkey to tender rail project under Development Road plan Turkey plans to float a tender for a new rail project that is part of the Development Road Project, a new freight link planned between Asia and Europe, according to a news report. The tender will be issued in the coming months, Daily Sabah newspaper reported, citing transport and infrastructure minister Abdulkadir Uraloğlu. Ankara is […] March 31, 2025
Construction Morocco raises $2.2bn to fund World Cup projects Morocco has reportedly generated €2 billion ($2.2 billion) in new loans to fund developments needed to co-host the 2030 Fifa World Cup. The euro-denominated bonds are the first to be issued in five years, Bloomberg reported. The four- and 10-year bond tranches were priced at 155 and 215 basis points, narrower than the previous estimate, […] March 27, 2025
Construction Drake & Scull swings to $1bn profit post-restructuring Drake & Scull International turned a profit last year following the completion of its restructuring plan. The contracting company, which trades on the Dubai Financial Market, swung to a net profit of AED4 billion ($1 billion) last year, compared to a net loss of AED367 million in 2023. Revenue marked a 20 percent rise to […] March 27, 2025
Aviation Egypt partners with IFC for airport privatisation Egypt’s civil aviation ministry has partnered with the International Finance Corporation (IFC) to introduce public private partnerships (PPP) at 11 airports, in a bit to improve infrastructure, connectivity and passenger services. As a pilot project, the IFC, a member of the World Bank, will act as the lead PPP transaction adviser for Hurghada International Airport, […] March 25, 2025
Infrastructure Morocco’s $1.3bn highway overhaul for 2030 World Cup Morocco plans to invest MAD12.5 billion ($1.3 billion) to develop its highway infrastructure for the 2030 Fifa World Cup. The investments, spanning from 2025 to 2032, will focus on three major projects: the Continental Rabat-Casablanca Highway, Tit Mellil-Berrechid Highway, and Ain Harrouda and Sidi Maarouf junctions, Morocco News World reported citing a statement from the […] March 24, 2025
Infrastructure Algeria cancels deep-water port project with China Algeria has officially shelved a $3 billion project to build what could have been one of Africa’s largest ports, nine years after a group of Chinese and Algerian companies signed an initial agreement, Ports Europe reported. The Algerian authorities, China State Construction Engineering Corporation and the China Harbour Engineering Company, signed an initial agreement in […] March 19, 2025
Infrastructure Iraq’s long delayed Faw port nears completion Iraq’s long-delayed redevelopment and construction of its Faw port near the Arabian Gulf will be completed this year, the Iraq state news agency reported, paving the way for improved access for goods to Iraq and beyond. South Korea’s Daewoo won a $2.6 billion contract to build five main piers at the port in 2010 and […] March 17, 2025
Infrastructure Dubai’s Tabreed explores acquisitions for expansion Dubai-listed district cooling company Tabreed is aiming to expand through acquisitions and organic growth in the UAE and global markets. “We aim to grow our connected capacity by 3 percent to 5 percent annually over 2025 to 2027,” chief financial officer Adel Salem Al Wahedi wrote in the company’s 2024 annual integrated board report. The […] March 17, 2025
Infrastructure Project finance central to funding Gulf infrastructure Financing a project and project finance are not necessarily the same thing. Irrespective, project finance is as important as ever in the Gulf in funding billions of dollars of infrastructure projects, from energy and water schemes to data centres and battery storage facilities, according to experts. Abbas Hussein, global head of infrastructure and development finance […] March 13, 2025
Infrastructure Dubai seeks consultant for new metro Gold Line Dubai’s Roads & Transport Authority (RTA) is seeking a lead consultant for its Dubai Metro Gold Line project, according to a news report. The RTA has issued a request for proposals for the consultancy role, Dubai-based Middle East Economic Digest (Meed) reported. Potential bidders are US-based Aecom, Jacobs and Parsons, Canada’s AtkinsRealis, UK-based Mott MacDonald […] March 10, 2025
