Thanks to the policy support of China's One Belt One Road Initiative, Chinese construction engineering companies, with their competitive quotations and strong financial support, occupy more market shares in the construction industry in the Gulf region and exert their strong energy.

According to statistics from the Middle East Economic Digest (MEED), as of 2021, the value of newly signed contracts by Chinese construction companies in the GCC countries was approximately US$4 billion, accounting for 8% of the total US$49.5 billion in new contracts issued in the region during the same period. %, an increase of 2% year-on-year. In 2019, this proportion reached about 11%, which was the largest market share in the past 5 years.

Since 2021, among the Iraq’s Maysan oilfield development projects with a total value of US$5 billion, China Construction First Bureau won the contract for the construction of new camps and the expansion of the current camps with a value of US$128 million; in late June, PetroChina International Beijing Petrochemical Engineering Company, a subsidiary of the limited company, won the EPC contract for a US$2.4 billion refinery near Duqum Port in Oman; China Railway Construction has also become the first batch of construction parties for the The Line Coastline New City Project in the US$500 billion Neom New City Development Project in Saudi Arabia One, the project is one of the core projects of NEOM New City development, including smart city, port and enterprise district, research center, sports and entertainment venues, and tourism center development projects.

Keywords: engineering news, engineering construction information, central enterprise engineering

The world pattern is undergoing profound adjustments, and the global economic recovery is slow. Looking to the future, Chinese companies have the strength to continue to win more super projects that are about to land in the region. Editor/Sang Xiaomei