Middle East Construction Round-up
Date
July 10, 2011
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India's L&T aims to challenge Korean hold on Gulf construction
India's biggest builder aims to double overseas results. Laursen and Toubro expects to fight with South Korean builders, such as Hyundai Engineering & Construction Co and Samsung, in order to get construction contracts in the Middle East. Indian design and engineering teams are sitting in India, with lower wages.
More than US$ 29 billion worth of construction projects is expected to be awarded in Saudi Arabia as part of the government's strategic development plans this year.
Oman, Egypt Lead Middle Eastern Push To Upgrade AirportsOman and Egypt will spend $2.95 billion in the next few years to expand and rebuild major airports in a bid to boost tourism and cargo capacity. Dubai and Bahrain have also announced significant expansion plans for their airports in order to become global aviation hubs.
GCC partnership contracts worth USD 628 bln for last 10 yearsPartnership project contracts between GCC public and private sectors awarded in the infrastructure sector during the last ten years is worth more than USD 628 billion.Habtoor Leighton to move 50% of operations outside UAEAl Habtoor Leighton is bidding on a string of contracts in a drive to move 50% of operations outside the UAE by Q4 2012.
