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FINANCIAL NEWS
Qatar’s awards USD3.8b in contracts for port
26 Nov 2014
(MENAFN) Qatar’s Transportation Ministry said that it has awarded contracts for its new container port with an estimated worth of USD3.8 billion, with nearly 53 percent of these contracts being won by national contractors, Emirates 24/7 reported.
The ministry said that Qatari companies’ value of the contracts they have won reached USD2.24 billion and that that work on the port, which will be located in Mesaieed south of the capital Doha, is nearly half done, with the first phase expected to be ready in 2016.
The port, which is expected to cost USD7.4 billion, would handle two million containers when the first phase is completed, with the capacity expected to reach 6 million tons after the completion of phase two and three.
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