The Middle East has $33 billion in active industrial and mining projects. Saudi Arabia leads the Middle East with 54% or $17.5 billion in active industrial and mining projects. Oman is in second place with 36%, or $11.5 billion. The UAE has 7% or $2.4 billion in industrial projects.
$22 billion of these industrial and mining projects are under execution. A further $11 billion is in pre-execution. Project awards during 2023 should come in at $2.3 billion in the Middle East industrial and mining sectors.
Maaden’s Ras Al Khair Phosphate 3 mining project is the largest active project in the Middle East. The project has an estimated development cost of more than $6.5 billion. Development work started in 2018 and will take ten years to complete. Once completed, the mine will boost Maaden’s phosphate capacity to 9 million tonnes per annum.
At ABiQ, we focus on supporting the development of the African and Middle Eastern markets. We identify investment opportunities and help businesses make the right choice when it comes to their role in investment, economic development and socioeconomic improvement. ABiQ provides validated data and trusted business intelligence. Our unique forecasting and project tracking tool provide data and analysis to support your business growth strategy across the Middle East and Africa. Contact us for a free demo.