Besix wins major joint Qatar Airport contract
Besix Group has won a $750 million contract in a joint venture to build the third phase of the New Doha International Airport passenger terminal complex
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Besix Group has won a $750 million contract in a joint venture to build the third phase of the New Doha International Airport passenger terminal complex, reported Bloomberg Business Week.
The project, which is to be built with Midmac Contracting , is set for completion by the fourth quarter of 2012, Orascom Construction Industries, which owns 50% of Besix Group, said in a statement on its website.
The builders will be responsible for all structural, mechanical and electrical works as well as the design of the airport lounge and retail area, according to the statement. Besix’s share of the contract is about 50% of its value, the statement said.
Orascom Construction, Egypt’s biggest publicly-traded builder, closed 1.85% down at 227.44 Egyptian pounds ($39.93) in Cairo (on June 30), before the announcement, valuing the company at 47 billion pounds according to Bloomberg data.
Orascom said in June that Besix won a $265 million contract for the North Manama causeway in Bahrain as part of a joint venture with the Haji Hassan Group.
Orascom operates in the Middle East, Europe, Africa and Asia. The company announced a joint venture in January with Morgan Stanley to invest in infrastructure in the Middle East and Africa.
