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FINANCIAL NEWS
Dubai withholds name of motorway project winner
18 Apr 2011
(MENAFN) The government of Abu Dhabi still had not disclosed the winner of a project for developing a motorway linking Abu Dhabi and Saudi Arabia, even though a winner had been selected back in February, reported The National.
In addition, the start date for the project was not reveled either.
This project is considered the UAE’s biggest road project ever. It would be built using the public-private partnership (PPP) model where contractors and financing partners form consortiums to fund and build projects.
It is worth noting according to the governments rules, the government keeps the right of withholding payments to the winning company if delivery was not up to the contract’s criteria.
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