Construction Industry News

GCC Oil & Gas Sector awarded over US$14 Billion worth contracts during Jan-Aug 2013

GCC Oil & Gas Sector awarded over US$14 Billion worth contracts during Jan-Aug 2013

16th September 2013

The total value of projects awarded to EPC/main contractors totaled over US$14 Billion during the period January to August 2013 in the 6 OGGCC Countries. Upper Zakum Production Facilities - Crude Processing Facilities, Sarb Oil Field - Package 4 - Main Processing Plant, Umm Al Lulu Full Field Development - Package 2, all from UAE, Condensate Refinery at Ras Laffan, Qatar - Phase 2, Sulphur Handling Facilities at Mina Al Ahmadi, Kuwait were the major projects awarded to EPC Contractors during the period.[..]

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UAE HVAC Market for new Building Projects hit US$1.08 Billion in 2012

UAE HVAC Market for new Building Projects hit US$1.08 Billion in 2012

8th September 2013

Heating, Ventilation and Air Conditioning (HVAC) is a major component of MEP servicesPicture1 market especially in UAE due to the country’s extreme climatic conditions. In the recent period, UAE HVAC sector faced a setback during the economic crisis since many projects were put on-hold in the region. However, during the post-recession, UAE started contributing towards increased opportunities and market revenues in the mechanical sector, spurred by a rapid increase in its construction activities. UAE HVAC market for new building projects is estimated at USD 1,087.1 Million in 2012 and has positive growth forecasted for the next couple of years. A number of significant projects are expected to start in 2013 in Abu Dhabi and Dubai which will drive the building sector growth in recent years.[..]

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Oman awarded over US$2750 Million worth contracts during Jan-July, 2013

Oman awarded over US$2750 Million worth contracts during Jan-July, 2013

27th August 2013

Picture1The total value of projects awarded to main contractors totaled over US$2,750 during the period January to July 2013 in the Sultanate of Oman. Batinah Expressway various packages, Yibal Field Depletion Compression Project, Omran Convention & Exhibition Centre - Phase 1 Package 2, The Wave - Kempinski Hotel were the major contracts awarded during the period.[..]

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GCC Hospital projects value close to US$50 billion

GCC Hospital projects value close to US$50 billion

14th August 2013

picturehealthThe total value of Hospital projects in the GCC region is valued at close to US$50 billion as of August 2013. This includes Hospital projects in all stages – planned, design, tender for construction, under construction and also on hold projects. Of the total, over 42% is under construction while the remaining are under planning stage, on the drawing boards, in the tender stage or on hold.[..]

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Kuwait awarded US$5537 Million worth contracts in H1,2013

Kuwait awarded US$5537 Million worth contracts in H1,2013

30th July 2013

Picture1Contractors were awarded projects amounting to US$5664 Million in the first half of 2013. During the same period in 2012, projects worth US$4315 Million were awarded to contractors. Al Zour North IWPP – Phase 1, Sulphur Handling Facilities in Mina Al Ahmadi, Small Boat Harbor in Kuwait were the major contracts awarded in the first half of 2013.[..]

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Petrofac-Top Gainer in UAE during H1, 2013

Petrofac-Top Gainer in UAE during H1, 2013

23rd July 2013

Picture1Petrofac International emerged as the contractor who won highest value contracts in the 1st half of 2013 in UAE. The projects include Crude Production Facilities at Upper Zakum, Bab-Habshan 1 Field Development, Pipelines and Platforms at Sarb Oil Field and Bab Gas Compression Expansion. For the Crude Production Facilities at Upper Zakum project, Petrofac has Daewoo Ship Building and Heavy Industries as its joint venture partner. The total value of projects awarded to Petrofac or its consortium during the period adds up to US$4,887 Million.[..]

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GCC Roads and Bridges projects valued at US$109 Billion

GCC Roads and Bridges projects valued at US$109 Billion

21st July 2013

Picture1The value of Roads and Bridges projects in the GCC Countries is estimated at US$109 Billion as stated by Ventures Onsite (www.venturesonsite.com) spokesperson as of July 2013. The value does not include other infrastructure schemes like rail, sewerage and other utility projects. The value include projects in all stages – planned, design, tender, construction and even projects on hold.[..]

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UAE Building Sector MEP Services Market hit US$4.5 Billion in 2012

17th July 2013

Picture1Mechanical, Electrical and Plumbing (MEP) services form a significant component of construction works in the building sector. The UAE MEP sector market size for the building sector in 2012 is estimated as US$ 4.5 Billion in 2012. The market is fragmented with the presence of a number of established local and international MEP contractors. High competition, rising material cost and labor drain emerges as key challenges faced by MEP contractors in UAE. The awareness for environmental sustainability and low energy consumption practices are expected to bring positive boost to the MEP sector especially with large upcoming projects now focusing on adopting green technologies.[..]

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UAE Building Sector MEP Services Market hit US$4.5 Billion in 2012

UAE Building Sector MEP Services Market hit US$4.5 Billion in 2012

17th July 2013

Picture1Mechanical, Electrical and Plumbing (MEP) services form a significant component of construction works in the building sector. The UAE MEP sector market size for the building sector in 2012 is estimated as US$ 4.5 Billion in 2012. The market is fragmented with the presence of a number of established local and international MEP contractors. High competition, rising material cost and labor drain emerges as key challenges faced by MEP contractors in UAE. The awareness for environmental sustainability and low energy consumption practices are expected to bring positive boost to the MEP sector especially with large upcoming projects now focusing on adopting green technologies.[..]

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