Table of contents:
- Saudi Arabia in Focus: High oil prices mean Riyadh’s finances and ambition align
- Business Outlook: News from the Gulf region’s major business sectors
- Saudi Hotel Pipeline: Future hotel construction in the kingdom is valued at $42bn
- Gulf Projects Index: Market falls further with $20bn slump in Saudi Arabia
- Contract Awards: Egypt tops the region’s contract awards ranking
- Power Developers: Saudi Arabia’s Acwa Power extends its lead in MEED’s regional power developer ranking; Renewables reshape future rankings
- Board Report: Protests break out across Iran after woman’s death in custody; Saudi projects top $1.1tn; Riyadh to send first woman into space; Qatar to shut borders to non-World Cup ticket holders
- Opinion: Project prospecting hits Dubai market; New realities confront power developers; Europe’s gas plans will change world energy
- Agenda: Gulf countries are pursuing plans to expand their non-oil economies and drive localisation
- Industrial Zones: Maximising the benefits of the Gulf region’s economic clusters
From the Editor:
As part of their non-oil economic journey, regional governments are getting behind industries such as aluminium, steel, other metals and minerals, and industrial equipment manufacturing, as well as providing impetus to the hydrocarbon value chain – in the form of petrochemicals and its derivatives.
By doing so, they aim to attract foreign direct investments, drive national revenue, create jobs, improve workforce skills and usher in advanced technology. They also have economic targets to hit, such as Saudi Arabia’s National Industrial Development and Logistics Programme and the UAE’s Operation 300bn.
With more private entities and foreign industrial players joining with state entities to partake in the Gulf’s non-oil economic development campaign, MEED’s October 2022 issue of MEED Business Review takes stock of the level of investments and volume of projects being generated.
This month, MEED also presents its 2022 Power Developer Ranking, covering 93 independent power producer (IPP) and independent water and power producer (IWPP) schemes procured over the past two-and-a-half decades across the six GCC states.
With a net capacity of close to 10.5GW across 28 projects, Saudi Arabia-headquartered utilities developer and investor Acwa Power has managed to pull away and extend its lead over other developers in this year’s index.
Meanwhile, October’s 19-page Market Focus on Saudi Arabia finds high oil prices turbocharging the kingdom’s spending-heavy Vision 2030 plans.
We hope you enjoy the October 2022 edition of MEED Business Review.
Colin Foreman is editor of MEED and has 20 years of experience reporting on projects and business in the Middle East and North Africa.
Editor – Colin Foreman
Features & Analysis Editor – John Bambridge
Energy & Technology Editor – Jennifer Aguinaldo
Oil & Gas Editor – Indrajit Sen
Oil & Gas Reporter – Wil Crisp
Commercial Content Editor – Mehak Srivastava
Commercial Content Editor – Sarah Rizvi
Tenders Writer – Jane Bishop
Head of Production – Marianne Makdisi
Sub Editor – Sneha Abraham
Graphic Designer – Rey Delante