CFO says contractor is also setting up logistics and joint ventures in preparation for bids on Qatar’s $100bn infrastructure projects
Arabtec Holdings, the UAE based construction contractor, announced on Saturday that it was actively looking at Libya and Qatar as part of its expansion plans for the year ahead.
According to a news report in Reuters, the contractor will look at acquiring oil and gas projects in Libya and construction contracts in Qatar, as the country prepares to host the 2022 FIFA World Cup.
“Libya is a medium-term market for us on the residential side, but immediate for oil and gas. Our subsidiary, Target Engineering, is already looking at some projects in this sector,” Arabtec chief financial officer, Ziad Makhzoumi said.
He added that the company was also setting up logistics and joint ventures in place in preparation to bid for Qatar’s planned $100bn in infrastructure projects, ahead of the 2022 World Cup.
Last month, the firm won three contracts worth $12.8m for infrastructure works across projects in Dubai. The first contract will involve the connection of a sewage network for the Academic City and the Silicon Oasis areas, while the second will see comprehensive improvements being made to parallel roads, involving sewage, drainage, irrigation and water works.