01 June 2017

TAV eyes $250m funding

Turkish construction firm and airport operator conglomerate TAV Group is in talks with banks to raise a $250-million loan for developing airports in the Saudi Arabian cities of Yanbu and Qassim, said a report citing a top official.

In addition, the Turkish group has finalised a deal to buy a major stake in construction conglomerate Saudi Oger, which also operates the kingdom’s Madinah airport, Bloomberg reported, citing its chief executive Sani Sener.

The disposal of the 16.7 per cent stake owned by Saudi Oger, the construction company that belongs to Lebanon’s Hariri family, leaves the ownership of Tibah Airports Development, as the airport operator is known, equally split between TAV and Rajhi Holding Company, the report said.

The Turkish group will also bid for the Istanbul unit of Malaysia Airports Holdings if a stake in the operator of Turkey’s second-biggest airport is put up for sale, said Sener.

TAV Havalimanlari Holding is “definitely interested” in looking at Istanbul Sabiha Gokcen Airport should requests for proposals be made, he added.

 

 

Sacyr completes $139m Qatar semi-urban zone work

Leading Spanish building company Sacyr has completed the development of a semi-urban zone spanning 1.52 million sq m in Bani Hajer area of Al Rayyan governorate in Qatar for €125 million ($139 million).

The project, which is the first contract awarded under the Local Roads and Drainage Programme by the Public Works Authority of Qatar (Ashghal), involved the provision of utilities services to more than 660 plots of land, four schools, five mosques and six retail areas, says the company.

Furthermore, a 101-km sanitation network was laid and five rainwater run-off tanks were built to prevent flooding, states the company which completed the work in conjunction with Combined Group Company.

The project entailed the execution of several roads and streets extending over 29 km, including sections that range in width from 16 to 40 m, with a traffic circle and two signallised intersections.

More than 120,000 tonnes of asphalt and 280,000 sq m of paving stones have been used during the construction, according to Sacyr.

The Spanish construction giant stresses that despite the fact that the project required more than 8.5 million man-hours, no serious accidents occurred.

Sacyr, which also has other projects under way in this country, has included the Middle East among its targets for growth in the construction, industrial and water businesses.

It has ongoing projects in Kuwait and Oman, and is also tendering for projects in the UAE and Jordan.

 

 

Cofely Besix Mannai lands Qatar FM contract

Cofely Besix Mannai Facility Management (CBMFM) says it has been awarded a contract by Qatar Foundation to provide maintenance support to all its ‘Group 2’ entities in Qatar.

Qatar Foundation for Education, Science and Community Development is a private, non-profit organisation that serves the country’s citizens by supporting and operating programmes in three core mission areas: education, science and research, and community development.

As per the five-year contract, CBMFM will be responsible for maintaining more than 25,000 of Qatar Foundation’s assets, which are spread out over 25 facilities across Qatar, consisting of central plant operations, plant rooms, facilities equipment.

These also include the iconic Qatar National Convention Centre (QNCC) and the Qatar Science & Technology Park (QSTP), says CBMFM.

The Cofely Besix unit points out that a significant number of operational personnel will be deployed for the work. 

The scope of services includes all corrective, reactive and planned preventative maintenance for a variety of assets such as air-conditioning units, chillers, energy transfer stations, civil works and project-related activities.

On the contract win, Robert Cats, the country manager of CBMFM, says: “We are extremely honoured to be awarded the Qatar Foundation contract, and this marks the start of a very exciting new era in our expansion in the region.”

“We look forward to the various challenges ahead, as the contract highlights our specialist technical capability, as well as our ability to deliver first-class service,” he adds.

• Trojan’s conquest
• dusitD2 debuts in Dubai
• Waterfront community takes off
• Seidco wins tower deal
• News in brief

Tags

Green Buildings Lighting Quarrying Railway Construction Corrosion Telehandlers & Boom Lifts Just Out Editorial Calendar 2017 Regional News Saudi Focus UAE Focus Events Diary of events Legally Bound Real Estate Contractors Interiors Tenders Manufacturers & Procurement

Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.