Meena - Business News - February 05, 2025 - Vol (86)
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As a part of our services we provide through Meena Business Consultancy Services, Our team in here are dedicated to delivering customized market insights, business intelligence, and updates on tenders and business opportunities from prominent regions such as Iraq, Kingdom of Saudi Arabia, UAE, Qatar and Pakistan. Additionally, we provide an updated list of fairs and exhibitions in these countries to facilitate our partners in making well-informed strategic decisions.
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IRAQ:
Chinese contractor signs Iraq oil field water injection deal.
China Petroleum Engineering & Construction Company (CPECC) has signed a major contract for the West Qurna-1 oil field water injection project in Iraq. The project aims to boost water injection capacity from 300,000 to 1.5 million barrels daily using advanced high-pressure technology. This development follows Petro China's takeover as the field's operator, marking a significant step in enhancing Iraq’s oil production efficiency.
Iraq imports over 50 kilograms of gold daily: Ministry.
Iraq imports between 50 to 75 kilograms of gold daily, excluding the Kurdistan Region, with all imports restricted to airports, according to the planning ministry. The gold arrives through Baghdad, Basra, Najaf, Kirkuk, Erbil, and Sulaimani airports, where inspection centers are in place. The ministry is ready to coordinate with Kurdistan authorities to regulate the process and obtain accurate import figures.
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Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
KINGDOM of SAUDI ARABIA:
Riyadh announces $2bn road projects.
Saudi Arabia’s Royal Commission for Riyadh City (RCRC) has announced eight major road projects worth $2 billion to enhance connectivity and reduce congestion. These projects, part of the Riyadh Ring Roads and Main Axes development program, include road expansions, bridges, tunnels, and improved intersections. The initiative supports Riyadh’s urban transformation under Vision 2030.
Construction begins on Trump Tower in Jeddah.
Dar Global has begun construction on the Trump Tower in Jeddah, a 47-floor luxury development worth $532 million in collaboration with the Trump Organization. The project is part of Dar Global’s expanding portfolio, which includes two new Riyadh developments and a $234 million residential project with jeweller Mouawad. Saudi Arabia’s construction sector is set for steady growth, driven by Vision 2030 investments in housing, tourism, and infrastructure.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
UNITED ARAB EMIRATES:
Ras Al-Khaimah's robust real estate boom continues.
Ras Al-Khaimah’s real estate market has surged, with transactions reaching AED6.4bn ($1.74bn) in 2024—an 805% increase since 2020—driven by major developments like the $2.5bn Wynn Resorts project on Al-Marjan Island. Leading developers, including Emaar, Aldar, and Rak Properties, have launched luxury residential and hotel projects, boosting demand. With over $9bn worth of future projects in the pipeline, the emirate’s real estate sector is set for continued growth, supported by infrastructure improvements and international connectivity..
Samsung E&A wins $1.7bn Abu Dhabi methanol project.
Abu Dhabi’s Taziz has awarded South Korea’s Samsung E&A a $1.7bn EPC contract to build the UAE’s first methanol plant in Ruwais, with completion expected by 2028. The plant, developed in partnership with Swiss firm Proman, will have a production capacity of 1.8 million tonnes per year and be powered by clean energy. Taziz is also investing in multiple petrochemical projects as part of its industrial chemicals zone, supporting the UAE’s Operation 300bn strategy to boost industrial growth.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
QATAR
Qatar sees 4.5% surge in contracts awarded in 2024.
Qatar’s oil sector saw a massive surge in project value, reaching $6.3bn in 2024, an almost eightfold increase from $809m in 2023, accounting for 33.5% of total contracts. While the gas sector declined by 49.5% to $6bn, the power sector grew 7.5 times to $3.4bn. The total value of contracts in Qatar rose 4.5% year-on-year to $18.9bn, with major projects like the $4bn North Field Phase 2 and the $2.1bn Al Shaheen Oil Field Ruya Development driving growth.
Firm to build Ooredoo’s Gulf fibre optic network.
Ooredoo Group has partnered with France’s Alcatel Submarine Networks to build the Fibre in Gulf (FIG) submarine cable, linking Qatar, Oman, the UAE, Bahrain, Saudi Arabia, Kuwait, and Iraq. The network will offer low-latency, high-capacity connectivity with up to 720 terabytes per second, enhancing regional data infrastructure. Ooredoo is expanding its digital investments, securing $546.2m in financing to grow its data centre network and partnering with Nvidia to deploy AI technology across multiple countries.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
PAKISTAN:
PM Orders Immediate Steps to Make Gwadar Port Fully Operational.
Prime Minister Shehbaz Sharif has directed urgent steps to operationalize Gwadar Port commercially and formed a committee led by Minister Ahsan Iqbal to coordinate with stakeholders. He emphasized hosting an international conference and developing a marketing strategy to enhance the port’s global significance. Additionally, he called for a detailed report on Gwadar’s import and export activities.
Government Issues Licenses to 57 Electric Vehicle Manufacturers.
The government has issued licenses to 57 EV manufacturers, advancing its plan for green transport and climate action. This aligns with Pakistan’s National Electric Vehicles Policy (NEVP), which targets 30% EV sales by 2030 and 90% by 2040. The initiative aims to create a cleaner, more sustainable transportation system.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
Meena - Business News delivers timely updates on investments, business trends, tender information, fair listings, and risk analysis in IRAQ, KSA, UAE, QATAR, and Pakistan.
We emphasize the abundant opportunities available and stand ready to support your business development endeavors in these potential countries.
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February 05, 2025