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Salalah Methanol Company (SMC), a wholly-owned subsidiary of Oman Oil Company (OOC), has secured a $728m recourse project financing for its ammonia plant in Oman.
Petrofac and Samsung Engineering’s equal stake joint venture (JV) has been awarded a $2bn contract by the Duqm Refinery and Petrochemical Industries (DRPIC) in the southern part of Oman.
India-based Larsen & Toubro (L&T) has announced that its construction arm secured contracts valued at INR21.7bn ($324.6M) across its various business segments.
The Special Economic Zone Authority in Duqm (SEZAD) has awarded four contracts worth a combined value of OMR84.7M ($220M) for infrastructure projects in Duqm, Oman.
Youssef Ouchagour, construction industry analyst at Timetric’s Construction Intelligence Center, looks at the current state of the healthcare construction market and presents five of the largest healthcare projects currently under construction in the Gulf Cooperation Council (GCC) region.Building adequate and effective healthcare facilities has become an urgent priority in the GCC region as the pressure continues to grow on the existing healthcare infrastructure due to a number of regional factors, including rapid population growth, higher life expectancy, a higher per capita income and a rise in lifestyle related diseases. GCC healthcare construction market outlookAccording to Timetric’s Construction Intelligence Center (CIC) project database, there are 119 active healthcare projects in the GCC countries with a combined value of $46bn. As expected, the majority of these projects are located in Saudi Arabia, the country with the largest population in the GCC, followed in order by the United Arab Emirates, Kuwait, Oman, Qatar and Bahrain. 40% of active projects in the GCC region, with a combined value of $21bn) are under execution, with the remaining 60% of projects at various pre-execution stages, with a combined value of $25bn. This shows that there is a wealth of future opportunities within the healthcare sector for the GCC construction industry.The expected growth of the Healthcare Sector in the GCC region over the next few years will be mainly driven by the GCC governments’ efforts to strengthen and modernise their healthcare system — 68% of the active Healthcare projects in GCC countries are publicly funded projects; these have a combined value of $39bn. Privately funded projects represent 25% of the total number of active healthcare projects in the region and have a combined value of $4.5bn. The total investment in healthcare projects through public/private partnership is around $2.2bn. The number of projects funded by the private sector is set to grow over the next few years due to the high demand for high quality healthcare facilities and services and the rise of the medical tourism trend in the region. The same is expected for projects funded through public/private partnerships as the GCC governments are looking for alternative ways to fund healthcare projects due to budget restraints.
Royal Boskalis Westminster has won a €480M contract from the Special Economic Zone Authority in Duqm (SEZAD) for the development of the port of Duqm in Oman.
Petrofac, a provider of oilfield services, has secured a contract worth nearly $600M to provide engineering, procurement and construction (EPC) services on the Salalah LPG extraction project in Oman.
Timetric’s Construction Intelligence Center (CIC) has further revised downwards its outlook for growth in construction activity in the countries of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE).
The Oman Tourism Development Company (Omran) has unveiled the $390M first phase of the Mina Al Sultan Qaboos Waterfront project in Muscat, Oman.
The Special Economic Zone Authority in Duqm (SEZAD) has signed two contracts for the Duqm Port in Oman.
Galfar Engineering and Construction has secured a contract to build a fishery port and related marine and road works at the Special Economic Zone in Duqm, Oman.The contract has been awarded by Duqm Special Economic Zone Authority (SEZAD), and is valued at OMR60.69M ($157M).The project will include dredging and land reclamation works, construction of breakwaters, quay walls and concrete floating pontoons with berthing facilities.The facility will anchor a world-scale Industrial Fisheries Cluster at Duqm, and, once finished, is set to be the largest fish harbour project in the country. Construction work is expected to be complete in 30 months.
Shriram EPC subsidiary Shriram EPC FZE, Sharjah, has won a $230M contract from UAE-based company Moon Iron And Steel for a ‘mini mill’ project in Sohar, Oman.The scope of the contract will include the construction of the balance of plant (BoP) for the mill, which will have a capacity of 1.2 metric tonnes per annum.Shriram EPC managing director and chief executive T. Shivaraman said: “The order win demonstrates the operating excellence of our team.“Given the slowdown in the steel and metals business in India with capacity expansions on hold, this overseas order will enable us to maintain and strengthen our position in this sector.“It will also give us a strong base to expand our business in the Middle East market.”The contract has been awarded by Moon Iron and Steel, an Oman-based company with investments from Gulf Investment Corporation, Oman Development fund and Sultan's Special Forces Pension fund.Work on the project is expected to be complete within 32 months.
Oman Tourism Development Company (Omran) has announced that it will facilitate the development of Oman’s first world-class family waterpark in Muscat.The project has been developed by six graduates of the National CEO Programme (NCP) — an initiative by the public private partnership taskforce (Sharaka), under the benefaction of the Diwan of Royal Court.The team has worked on the development for one year, spending 5,000 hours on the elaboration of a detailed business plan, including financial modelling and stakeholder research.James Wilson, CEO of Omran, said: “Omran’s mission is to seek and support projects of national significance that can help position Oman as a leading global visitor destination. “We actively look to support develop and grow national capacities to develop and manage these projects, which is why we are fully committed to collaborating with the NCP. “Based on extensive market research carried out by the NCP team it is clear that there is significant interest from the younger generation in Oman and as is the case at other successful Waterparks in our neighbouring countries it is a significant driver of family based hotel occupancy.”
Oman’s Minister of Housing Sheikh Saif bin Mohammed Al Shabibi has signed two housing contracts worth OMR75,97m ($197m). The first deal involves setting up infrastructure for a new residential area in Liwa in the Governorate of North Al Batinah, while the second agreement is related to providing consultancy services for preparing the necessary studies and detailed layouts for the new urban complex at Al Najd area in the Wilayat of Thumrait in the Governorate of Dhofar. The new agreements include water, irrigation, rainwater discharge, sanitary drainage, electricity and communication networks. Earlier, the agreement for levelling the site and roads for the new residential area in the Wilayat of Liwa was signed for more than OMR25m ($65m), and included the construction of roads that connect the residential districts and the service road parallel to the current Al Batinah road.
L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro (L&T), has won two EPC contracts worth $370m from Petroleum Development Oman.The new contract includes engineering, procurement and construction of Saih Nihaydah Depletion Compression Phase 2 and Kauther Depletion Compression Phase 2 Project.The Saih Nihaydah field is located in central Oman and has been producing via the Saih Nihaydah Gas Plant, which was commissioned in 2005. The Kauther Gas Plant is located about 120km from the Saih Rawl Central Processing Plant.Both projects are being undertaken with an aim to overcome pressure depletion and maintain potential in order to sustain production.
Larsen & Toubro’s (L&T) construction division has secured several contracts worth INR32.05bn ($480m) across its various businesses.Of these, INR20.18bn ($302.2m) worth of contracts have been awarded to the company's buildings and factories business.These include a contract from a Mumbai-based developer for a turnkey high-rise residential project. The scope of the contract will include civil, structural, mechanical, electrical, plumbing and finishing works for six towers, each rising 55 to 60 floors.The business has also secured additional orders from several existing customers for the development of commercial and residential spaces.The power transmission and distribution business has won contracts worth INR7.1bn ($106.3m).In the company's domestic Indian market, the business has secured a turnkey contract from Powergrid Southern Interconnector Transmission System to build a 400kV double circuit transmission line linking Cuddapah to Madhugiri, as well as another contract from Power Grid Corporation of India for the construction of a 765kV double circuit transmission line at Cuddapah.In the international market, Larsen & Toubro (Oman) has secured a turnkey contract from Oman Electricity Transmission Company to build 400kV reactor transformers and associated works at Sur and Izki substations.
Oman-based engineering and construction firm Galfar Engineering has secured a construction contract for an oil and gas processing facility worth OMR115m ($298.7m) from Petroleum Development Oman (PDO).The scope of the contract will include the construction of a new central processing facility at PDO’s Yibal Khuff project, located south-west of Oman’s capital Muscat. The company will also be responsible for civil, mechanical, electrical as well as instrumentation works. The contract will have a duration of more than 51 months."We expect reasonable income from this project," Galfar said in a bourse statement.
A Sacyr-led consortium has secured a contract worth over $1.2bn from Oman Power and Water Procurement Company to construct a desalination plant in Oman.
Indian construction firm Punj Lloyd has secured $304m worth of oil and gas EPC contracts in Oman from Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Gas Company (OGC).
Indian construction firm Punj Lloyd has secured $304m worth of oil and gas EPC contracts in Oman from Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Gas Company (OGC).
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