GEK Terna wins deals
01 November 2015
Greek conglomerate GEK Terna said its construction unit has secured four projects in the GCC – two each in Bahrain and Abu Dhabi (UAE) – worth €150 million ($169 million).
The biggest win for the company was in Bahrain, where it sealed a construction and maintenance deal worth $107 million for a 321,350-sq-m housing project comprising 832 units, it said.
The second project in the kingdom involves the construction of a sewerage project worth €23 million ($26 million), as the lead partner of a joint venture with CGCE Abu Dhabi. The scope of work includes the construction of a 1,760-m-long primary sewer and a treated sewage effluent network with a total length of 9,100 m serving the Northern Town (Al Madina Al Shamaliya) islands development.
In the UAE, the company clinched contracts worth €32 million ($36 million) for the construction of a luxurious residential complex and a 32,000-sq-m hospital.
These new projects further strengthen GEK Terna Group’s construction backlog which currently exceeds €3 billion ($3.35 billion).
The company, along with its partners Gulf Consolidated Contractors and Wade Adams Contracting, recently secured €300-million ($335 million) contract from Qatar’s Public Works Authority (Ashghal) for the reconstruction of a 40-km-long stretch in Doha industrial area. The project is for completion in three years.
Doha Industrial Area Package Two project involves reconstruction of urban roadwork in an industrial area spread over 412 hectares, setting up new sewerage network, new substations, as well as smart networks for the management of circulation and telecommunications. As per the contract, Terna will be responsible for the maintenance of the project for 400 days following its completion.
