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FINANCIAL NEWS
Al Habtoor Leighton to bid for Iraq projects
24 Feb 2010
(MENAFN) A senior official at Al Habtoor Leighton, one of the Middle East’s leading construction and engineering companies, said that the company plans to bid for infrastructure projects in Iraq this year as security conditions improve, Reuters reported.
The southern city of Basra was one part of the country where the firm was considering bidding for tenders, he said.
Within the GCC, the firm was also looking at moving into Oman, he said, adding that the company has already entered the Saudi Arabian market as it expands its presence in the Middle East.
A slowdown in the pace of construction as a result of the financial crisis has hit the firm’s order book, with as much as $3.26 billion shaved through cancelled contracts in the UAE.
An improvement in security and a relaxation of government regulations in Iraq is presenting potential opportunities for builders.
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