Kuwait-based United Gulf Construction Company has secured a major contract worth KD97.4 million ($317 million) from Ministry of Electricity & Water & Renewable Energy for the construction, maintenance and development of key facilities at its Doha Water Distribution Complex.
Saudi utilities major Acwa Power has announced the completion of acquisition of French energy giant Engie’s stake in the Al Zour North One Power and Water Plant (Az-Zour North IWPP) in Kuwait. The gas-fired IWPP has a 1.5GW power generation capacity and a 107 MIGD desalination capacity.
The GCC region witnessed the launch of 40 initial public offerings (IPOs) in 2025 that raised a total of $5.1 billion in proceeds, said a report. Saudi Arabia led the region raising a total of $4.1 billion, which constituted 79% of the total GCC IPO proceeds during the year.
