Local companies win 53% of awarded contracts for Qatar’s New Port Project
Local firms in Qatar have won 53% of total awarded contracts for the country’s $7.4 billion New Port Project, it was reported.
Qatari companies were awarded contracts worth $2.2 billion for the upcoming project, The Peninsula Qatar reported.
Due for completion in 2020, the New Port Project will cover a total land space of 26.5 sq. km. The project, expected to be one of the world’s largest greenfield port developments, will include a new port, a new base for the the naval forces, and the Qatar Economic Zone 3.
The first phase of the project is scheduled for completion in 2016, with a capacity for 2 million containers. After completion of the two remaining phases, the capacity of the port will increase to 6 million containers, it was reported.