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Episode 11: Navigating Middle East Infrastructure Market — NEOM Delays, Economic Diversification, and Renewable Energy Initiatives
Release Date: June 29, 2024

Back > Podcast

Episode 11: Navigating Middle East Infrastructure Market — NEOM Delays, Economic Diversification, and Renewable Energy Initiatives
Release Date: June 29, 2024

Overview:

This Episode delves into the dynamic landscape of infrastructure development in the Middle East, focusing on the region’s efforts to diversify its economy beyond oil exports. The episode examines significant investments in financial hubs, tourism projects, and new infrastructure developments in countries like Saudi Arabia and Egypt. The discussion features insights from Eyman Ikhlaq, the lead analyst on Transformers and Switchgear. Eyman discusses the ambitious NEOM project in Saudi Arabia, highlighting the financial challenges causing delays and the implications for the broader 2030 vision. The conversation also explores the impact of these delays on the distribution equipment market, including distribution transformers and switchgear.

The episode further analyzes the infrastructure scenarios in Egypt and the UAE. Despite Egypt’s economic struggles due to the pandemic and geopolitical tensions, substantial foreign investments are aiding its urban development. In contrast, the UAE continues to advance its infrastructure projects without similar setbacks, with significant new investments underway. Eyman provides a detailed outlook on the distribution equipment market, predicting a slight decrease in growth rate but maintaining an overall positive forecast. The discussion then shifts to the region’s decarbonization efforts and renewable energy initiatives, emphasizing the growing focus on solar energy and the electrification of the transport sector. These trends are expected to drive demand for modernized grid infrastructure and distribution equipment, supporting sustained market growth.

Overall, this episode offers a comprehensive view of the evolving infrastructure landscape in the Middle East and its implications for the distribution equipment market, highlighting both challenges and opportunities.

Themes:

Infrastructure Development in the Middle East; Economic Diversification; Project Delays and Financial Challenges; Foreign Investments and Economic Stability; Decarbonization and Renewable Energy Initiatives; Long-Term Economic and Infrastructure Strategies

Key Questions:

How do you see the delays in infrastructure projects, especially in Saudi Arabia’s NEOM project?

Timestamp: 1:34 – 2:47

What are the main reasons for the slowdown in Saudi Arabia’s infrastructure development?

Timestamp: 2:47 – 4:10

How is Egypt managing its infrastructure development amid economic challenges?

Timestamp: 6:30 – 8:28

How is the UAE continuing its infrastructure development without similar setbacks?

Timestamp: 8:04 – 8:28

What is the impact of the infrastructure project delays on the distribution equipment market?

Timestamp: 8:46 – 9:36

How will the push towards renewable energy and electrification of transport impact the demand for distribution equipment?

Timestamp: 12:10 – 12:18

Speakers

Eyman Ikhlaq:

Eyman is an Analyst at PTR Inc., where she specializes in Transformers topics. Her professional journey began in the research sector at IDR, where she worked as a Market Research Analyst for the APAC region. After gaining a year of valuable experience analyzing market trends across various domains, Eyman moved to PTR as a Power Grid Analyst. Currently, her focus is on conducting thorough analyses and providing insights into the field of Transformers. Eyman has a strong technical background, having earned a bachelor’s degree in electrical engineering.

Hassan Zaheer:

Hassan is the Chief Operating Officer at PTR Inc. With more than a decade of experience in the energy transition space, Hassan works for various Fortune-500 blue-chip clients on global market studies in the electrical infrastructure sector. In his current role at PTR, he works with clients to sustainably grow their businesses, both through custom consulting work and tailored research reports by PTR, helping their executive management and boards make data driven decisions. Hassan is also a Member of Advisory Board for CWIEME Berlin and an advisor to the educational non-profit Better Humans Academy.

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