Contracts worth $2.19bn already handed out for dredging and other work
Construction of Qatar’s new $7.4bn port is set to be completed by the first quarter of 2016, the project’s executive director said on Thursday.
In a report carried by Bloomberg News, Nabeel Mohamed al Buenain, said that contracts worth $2.19bn for dredging and other work had already been awarded. He added that he expected the project to be completed below budget.
The new port will be located south of Qatar’s capital city, Doha.
The objective of its construction is to reduce and relieve congestion at the existing port, which is already operating above capacity, Al Buenain said.