Construction Industry News

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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Qatar Gears up to meet the World Cup Timelines with Infrastructure Build Up in 2013

Qatar Gears up to meet the World Cup Timelines with Infrastructure Build Up in 2013

16th July 2013

Picture2As the country gears to host the World Cup in 2022, projects and contracts awarded at a moderate pace through 2011 and 2012, have begun to climb up steadily and are likely to almost double in 2013. Contracts worth US$16,091 million and US$18,022 million were awarded across construction sectors in 2011 and 2012, respectively, and as per the current construction schedule, the numbers are likely to go over a staggering US$ 30 billion in 2013, with infrastructure sector accounting for the bulk of the contracts followed by the building construction sector.  Projects being readied for the World Cup 2022 event include 9 stadia, the prestigious metro and other railway projects, the roads and highways expansion and upgrade projects to ease congestion in the capital city of Doha, are all likely to witness contract awards for core and associated projects likely to stretch over a period of 2013 to 2017.[..]

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The UAE Cement Sector – Positive Outlook amid Oversupply

The UAE Cement Sector – Positive Outlook amid Oversupply

16th July 2013

Picture1Cement demand is mainly driven by construction projects, particularly in building, infrastructure and marine sectors. In terms of supply, the market is over saturated mainly due to capacity additions following the construction peak of 2008.  Equiped with large capacities, and faced with conservative local demand, local cement factories had no choice but to start exporting their excess production to surrounding markets such as Kuwait, Bahrain and Oman. Competition in those markets however, was getting stiffer with Oman developing its own cement capacity, and Saudi Arabia flooding the GCC market with its immense cement production.[..]

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