Kuwait Projects, H2 2024 – MEED Insights

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Published: July 31, 2024 Report Code: GDMICON0002PJ-ST

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Reasons to buy the ‘Kuwait Projects, H2 2024’ MEED report:

  • Get an overview of the Kuwait projects in H2 2024 to understand the market better.
  • Understand the economy of Kuwait including GDP growth and budget expenditure.
  • Access insights into the Kuwait projects market including details of market size, contract awards, stakeholders involved, and projects under execution.
  • Find out about the contract awards, projects, project status, project sector, and top stakeholders across the oil and gas, construction, transport, industrial, and power and water sectors.

How is our ‘Kuwait Projects, H2 2024’ report unique from other reports in the market?

  • Identify trends in each sector including the growing and shrinking of industries.
  • Discover key opportunities and challenges shaping the market.
  • Access ‘hard data’ from actual projects to quantify different markets and sectors.
  • Get an umbrella view of the project market.
  • Assess historical, current, and future project market information.

We recommend this valuable source of information to anyone involved in:

  • ​Construction Technology Leaders and Startups
  • Business Development and Market Intelligence
  • Investment Analysts and Portfolio Managers
  • Professional Services – Investment Banks, PE/VC Firms
  • M&A/Investment, Management Consultants, and Consulting Firms

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Kuwait H2 2024 Projects Report Overview

Kuwait possesses a portfolio of planned but unawarded projects worth over $164 billion, making it the seventh-largest market in the MENA region. Political instability in recent years has been a major obstacle for Kuwait in approving significant infrastructure projects. To overcome this challenge, the country urgently needs to enhance governance, ensure timely approval of budgets, and make solid commitments to project expenditures. As of 2024, Kuwait’s economic outlook suggests a potential downturn due to factors such as decreased oil production, sluggish consumer activity post-pandemic, and persistent political uncertainties that hinder investment.

The ’Kuwait Projects, H2 2024 – MEED Insights’ report provides an executive summary of the sector. It also covers key data such as the value of work awarded by year and sector, trends in project awards, the key clients and contractors, the top projects in each sector, and a forecast for the years ahead.

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Key Sectors ·       Oil, Gas, and Chemical

·       Construction

·       Transport

·       Industrial

·       Power and Water
Key Projects ·      Kuwait Airport Expansion: New Passenger Terminal 2: Package 1: Main Works

·      South Saad Al-Abdullah Residential City: Infrastructure Works

·      Kazema Camp Development

·      KAE: Terminal 2: Package 3 (Aircraft Parking, Runways & Service Buildings)

·      900MW Subiya Power and Desalination Plant Gas Turbines Phase 4
Key Clients ·       Ministry of Public Works, Kuwait

·       Kuwait Public Authority for Housing Welfare

·       Kuwait Oil Company

·       Ministry of Electricity, Water & Renewable Energy Kuwait (MEW Kuwait)

·       Kuwait National Guard
Key Contractors ·       Limak Holding

·       Alghanim International General Trading and Contracting Co.

·       China Gezhouba Group Corporation

·       Heavy Engineering Industries & Shipbuilding Co.

·       Ahmadiah Contracting & Trading Co.
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Kuwait Projects – Market Dynamics

Kuwait is recognized as one of the strongest economies in the Middle East, presenting extensive opportunities for businesses locally, regionally, and globally. Its high-income status, substantial oil reserves capable of sustaining production for around a century, and significant natural gas assets underscore Kuwait’s considerable wealth and abundant resources. Kuwait’s economy is mainly dependent on energy exports and the oil sector contributes the most to this export revenue.

The robust performance of the non-oil GDP post-pandemic primarily resulted from higher oil prices, government spending, subdued consumer demand, and enhancements in oil refining, compensating for the sluggish projects market.

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Kuwait Projects – Key Sectors

The largest sector in terms of work under execution was transport in H2 2024

The key sectors among the Kuwait projects are oil, gas, and chemical; construction; transport;  industrial; and power and water. In 2023, Kuwait experienced a notable increase in the value of transport contract awards.

The largest current subsector in the construction sector in terms of work under execution is the airport.

Kuwait Projects Analysis by Sectors, H2 2024

Kuwait Projects Analysis by Sectors, H2 2024

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Kuwait Top Projects Under Execution

Kuwait Airport Expansion: New Passenger Terminal 2: Package 1: Main Works had the highest contract value in H2 2024

A few of the current top projects under execution in Kuwait are:

  • Kuwait Airport Expansion: New Passenger Terminal 2: Package 1: Main Works
  • South Saad Al-Abdullah Residential City: Infrastructure Works
  • Kazema Camp Development
  • KAE: Terminal 2: Package 3 (Aircraft Parking, Runways & Service Buildings)
  • 900MW Subiya Power and Desalination Plant Gas Turbines Phase 4

Kuwait Top Projects Analysis, H2 2024

Kuwait Top Projects Analysis, H2 2024

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Kuwait Projects – Competitive Landscape

Ministry of Public Works, Kuwait was the largest client by value and Limak Holding was the largest contractor in H2 2024

A few of the top clients in Kuwait are:

  • Ministry of Public Works, Kuwait
  • Kuwait Public Authority for Housing Welfare
  • Kuwait Oil Company
  • Ministry of Electricity, Water & Renewable Energy Kuwait (MEW Kuwait)
  • Kuwait National Guard

Kuwait Projects Analysis by Clients, H2 2024 (%)

Kuwait Projects Analysis by Clients, H2 2024 (%)

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A few of the key contractors associated with Kuwait projects are:

  • Limak Holding
  • Alghanim International General Trading and Contracting Co.
  • China Gezhouba Group Corporation
  • Heavy Engineering Industries & Shipbuilding Co.
  • Ahmadiah Contracting & Trading Co.

Kuwait Projects Analysis by Contractors, H2 2024 (%)

Kuwait Projects Analysis by Contractors, H2 2024 (%)

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Segments Covered in the Report

Kuwait Projects Sector Outlook (Value, $ Million, H2 2024)

  • Oil, Gas, and Chemical
  • Construction
  • Transport
  • Industrial
  • Power and Water
Kuwait Public Authority for Housing Welfare
Kuwait Oil Company
GCC Interconnection Authority
Kuwait National Petroleum Company
Chevron

Table of Contents

Table of Contents

1. Executive summary

2. Kuwait country overview

3. Kuwait projects market

4. Oil and Gas

5. Construction

6. Transport

7. Industrial

8. Power and water

Table

List of Tables

Table 1 Top Projects

Table 2 Biggest planned and un-awarded projects in Kuwait

Table 3 Top Oil and Gas Sector Projects

Table 4 Biggest planned and un-awarded Oil and Gas projects in Kuwait Due in Bidding Stage

Table 5 Biggest planned and un-awarded Oil and Gas projects in Kuwait at Design, FEED or Study Stage

Table 6 Top Construction Sector Projects

Table 7 Biggest planned and un-awarded Construction projects in Kuwait Due in Bidding Stage

Table 8 Biggest planned and un-awarded Construction projects in Kuwait at Design, FEED or Study Stage

Table 9 Top Transport Sector Projects

Table 10 Biggest planned and un-awarded Transport projects in Kuwait Due in Bidding Stage

Table 11 Biggest planned and un-awarded Transport projects in Kuwait at Design, FEED or Study Stage

Table 12 Top Power and Water Sector Projects

Table 13 Biggest planned and un-awarded Power and Water projects in Kuwait Due in Bidding Stage

Table 14 Biggest planned and un-awarded Power and Water projects in Kuwait at Design, FEED or Study Stage

Figures

List of Figures

Figure 1 Kuwait country map

Figure 2 GDP by sector, Q4 2020 (%)

Figure 3 Kuwait Nominal GDP vs. GDP Growth, 2012-24

Figure 4 Kuwait budget, 2012-22 (KD bn)

Figure 5 Gulf Projects Index Value of all projects in Kuwait ($m)

Figure 6 Projects market by project status ($m)

Figure 7 Projects market by sector ($m)

Figure 8 Value of contract awards by year ($m)

Figure 9 Value of contract awards by year and sector ($m)

Figure 10 Value of contracts awarded in Kuwait in July to December, 2012-21 ($m)

Figure 11 Number of Contracts Awarded 2012-21

Figure 12 Biggest clients in Kuwait by value of contracts in execution ($m)

Figure 13 Biggest contractors in Kuwait by contracts in execution ($m)

Figure 14 Projects planned but unawarded by status ($m)

Figure 15 Projects planned but unawarded by sector ($m)

Figure 16 Biggest clients in Kuwait by value of contracts planned ($m)

Figure 17 Kuwait contracts award forecast 2022-25 ($m)

Figure 18 Value of Oil and Gas contract awards by year ($m)

Figure 19 Oil and gas projects market by project status ($m)

Figure 20 Oil and gas projects market by subsector (%)

Figure 21 Value of Oil and Gas contract awards by year and subsector ($m)

Figure 22 Biggest Oil and Gas Sector clients in Kuwait by value of contracts in execution ($m)

Figure 23 Biggest Oil and Gas Sector contractors in Kuwait by contracts in execution ($m)

Figure 24 Oil and Gas Projects planned but unawarded by status ($m)

Figure 25 Oil and Gas Sector Projects planned but unawarded by subsector ($m)

Figure 26 Biggest Oil and Gas Sector Future Clients

Figure 27 Value of Construction contract awards by year ($m)

Figure 28 Construction projects market by project status ($m)

Figure 29 Construction projects market by subsector (%)

Figure 30 Value of Construction contract awards by year and subsector ($m)

Figure 31 Biggest Construction Sector clients in Kuwait by value of contracts in execution ($m)

Figure 32 Biggest Construction Sector contractors in Kuwait n by contracts in execution ($m)

Figure 33 Construction Projects planned but unawarded by status ($m)

Figure 34 Construction Sector Projects planned but unawarded by subsector ($m)

Figure 35 Biggest Construction Sector Future Clients

Figure 36 Value of Transport contract awards by year ($m)

Figure 37 Transport projects market by project status ($m)

Figure 38 Transport projects market by subsector (%)

Figure 39 Value of Transport contract awards by year and subsector ($m)

Figure 40 Biggest Transport Sector clients in Kuwait by value of contracts in execution ($m)

Figure 41 Biggest Transport Sector contractors in Kuwait by contracts in execution ($m)

Figure 42 Transport Projects planned but unawarded by status ($m)

Figure 43 Transport Sector Projects planned but unawarded by subsector ($m)

Figure 44 Biggest Transport Sector Future Clients

Figure 45 Value of Power and Water contract awards by year ($m)

Figure 46 Power and Water projects market by project status ($m)

Figure 47 Power and Water projects market by subsector (%)

Figure 48 Value of Power and Water contract awards by year and subsector ($m)

Figure 49 Biggest Power and Water Sector clients in Kuwait by value of contracts in execution ($m)

Figure 50 Biggest Power and Water Sector contractors in Kuwait by contracts in execution ($m)

Figure 51 Power and Water Projects planned but unawarded by status ($m)

Figure 52 Power and Water Sector Projects planned but unawarded by subsector ($m)

Figure 53 Biggest Power and Water Sector Future Clients

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