MENA Project Tracker: South Korea’s Posco commences work on a green ammonia project in Oman

Follow-ups -eshrag News:

Wed, 2022-05-18 14:50

RIYADH: While South Korea’s Posco has commenced work on a green ammonia project in Oman, UAE’s Emaar has extended the bid deadline for a package regarding the Dubai-based Creak Beach project. Meanwhile, contractors are expected to wait another year until Saudi’s Neom project becomes the region’s largest project by contracts. On another note, Saudi’s Myclinic has been chosen to build, own, and operate Al-Ula hospital project.

·      South Korean steel making company Posco Group has announced that it has started work on a green ammonia project in Oman, MEED reported. With a potential capacity of 4 GW, the project is part of at least 10 hydrogen and green ammonia projects that are being planned in the country. 

·      Emirati multinational real estate development company Emaar has pushed the bid deadline for the package to work on the third phase of its Creek Beach development located in Dubai until May 23, MEED reported. The package includes the building of 14 medium-rise buildings accommodating an estimated 900 residential units. The project is one of 24 plans that the real estate firm is currently either designing or tendering.

·      Contractors might have to wait another year before Saudi’s Neom project to be the region’s largest project in terms of contracts, MEED reported. This comes as the project currently has contracts worth $1.8 billion at the tender stage and other contracts amounting to $875 million at the prequalification stage. 

·      Saudi Arabian clinics operator Myclinic has been awarded the build, own, operate, and transfer contract for the $100 million Al-Ula hospital project, MEED reported. The duration of the contract extends to 10 years, after which the asset will be handed over to the Royal Commission.


Main category: 
Business & Economy

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