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FINANCIAL NEWS
Oman awards USD320m contract to Malaysia’s WTC
17 Aug 2012
(MENAFN) Oman government has awarded a USD320 million contract to Malaysian builder WCT Bhd to construct a 44.75km expressway in Oman, Reuters reported.
WCT Bhd is an engineering and constructions firm with operations including Commercial Property Investment & Management, Airports, Dams & Water Supply Schemes Civil Works, Expressways & Highways, Buildings, Interior Fit-Out Works Township Development, Mix-Commercial, Luxury Homes, High-Rise Residences, Concessions building and F1 Racing Circuits.
WCT will undergo the project through an 80:20 joint venture with Oman Roads Engineering, and is expected to finish in three years, according to a local stock exchange filing.
The contract to be entered is expected to contribute positively to the group’s earnings and net assets for the financial years ending December 31 from 2012 to 2015, WCT said.
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