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FINANCIAL NEWS
Saudi USD1.45b airport contract granted to German Hochtief
06 Jul 2015
(MENAFN) A Saudi Arabian USD1.45 billion development and expansion contract is set to be granted to Germany’s Hochtief joint venture, according to official statements, Arabian Business reported.
The joint venture is set up between Shapoorij Pallonji Mideast and Nahdat Al Emaar, in which Hochtief enjoys a 55 percent stake, will be in charge of expanding two terminals at King Khaled International Airport in Riyadh.
“We are delighted to have won this major contract. It reinforces our position as an important infrastructure construction group and shows that our international expertises ” are greatly appreciated by our clients,” the CEO of Hochtief said.
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