MENA Project Tracker — Aramco starts bids on $5bn petchem project; AMAALA to tender projects worth $1.6bn

Abu Dhabi Sewerage Services Co. has invited bids for wastewater network works located in Abu Dhabi and Al-Ain, reported MEED.
Short Url
Updated 12 September 2022
Follow

MENA Project Tracker — Aramco starts bids on $5bn petchem project; AMAALA to tender projects worth $1.6bn

CAIRO: Abu Dhabi Sewerage Services Co. has invited bids for wastewater network works located in Abu Dhabi and Al-Ain, reported MEED.

The deadline to receive applications is Sept. 27.

The company has also invited bids for a project for the rehabilitation and development of wastewater and the deadline is Oct. 4.

AMAALA to tender projects worth $1.6bn

AMAALA — the Saudi megaproject set to attract tourists to the Red Sea coast — is tendering SR6.1 billion ($1.6 billion) worth of contracts across 54 proposals, Zawya reported.

The project developer also revealed that 300 contracts valued at SR6.62 billion have already been awarded, where the majority of deals have been finalized with local firms.

“Surpassing 300 contract awards underscores the scale of this project and the significant progress being made as we press ahead with activity on the ground to bring our destination to life,” stated John Pagano, Group CEO of TRSDC, was quoted as saying.

Aramco starts bids on $5bn petrochemicals project 

Saudi Aramco Total Refining and Petrochemical Co. is awaiting technical and commercial bids on its $5 billion Amiral petrochemicals project in Jubail, according to MEED.

Saptor — a joint venture between Aramco and France’s TotalEnergies — has pre-qualified eight bidders for the engineering, procurement and construction of the project.

The scope of work includes the expansion of  Saptor’s operations at its refinery in Jubail into petrochemicals production.

Upon its completion, the complex will have the capacity to produce 1.5 million tons of ethylene annually, in addition to 500,000 tons of propylene a year.

 


Saudi NDMC completes 1st international dollar bond issuance of 2026  

Updated 5 sec ago
Follow

Saudi NDMC completes 1st international dollar bond issuance of 2026  

RIYADH: Saudi Arabia’s National Debt Management Center has announced the completion of investor subscriptions for the first international bond issuance of 2026, conducted under the Kingdom’s international bond program. 

Total subscription requests reached approximately $31 billion, representing a coverage ratio of 2.7 times the total issuance size of $11.5 billion, equivalent to SR43.13 billion. The issuance was divided into four tranches. 

The first tranche amounted to $2.5 billion, equivalent to SR9.38 billion, for three-year bonds maturing in 2029. 

The second tranche totaled $2.75 billion, equivalent to SR10.31 billion, for five-year bonds maturing in 2031. 

The third tranche also amounted to $2.75 billion, equivalent to SR10.31 billion, for 10-year bonds maturing in 2036. 

The fourth tranche amounted to $3.5 billion, equivalent to SR13.13 billion, for 30-year bonds maturing in 2056. 

The transaction was carried out in line with the recently announced annual borrowing plan, which aims to diversify the investor base and efficiently meet the Kingdom’s financing needs through global debt markets.  

The strong demand from international investors for Saudi government debt instruments reflects confidence in the strength of the Kingdom’s economy.