Property News · January 24, 2016

Arabtec JV receives letter of intent for Bahrain airport modernisation works



Arabtec and its joint venture partner TAV Construction have received a letter of intent to complete the main modernisation works at Bahrain International Airport, the Dubai-listed contractor said on Sunday.The statement gave no details, including the value of the contract, the cost or the timetable for the project, but said the scheme will be funded by the Abu Dhabi Fund for Development.Bahrain International Airport is moving ahead with a modernisation and expansion plan estimated to cost between $1.1 billion and $1.2bn, Mohammed Al Binfalah, chief executive of Bahrain Airport Company, said at a media briefing on Friday.
Arabtec’s largest shareholder is Abu Dhabi state fund Aabar Investments. It is also the main contractor on the Midfield Terminal scheme in Abu Dhabi.business@thenational.aeFollow The National’s Business section on Twitter

Source : thenational.ae
Read more…Arabtec JV receives letter of intent for Bahrain airport modernisation works

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