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FINANCIAL NEWS
UAE- RAK, Khor Fakkan USD118m road contracts awarded
24 Jun 2012
(MENAFN) The Follow up Committee of Initiatives of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has awarded two road construction contracts with a combined value of USD118.40 million, reported Emirates 24/7.
The first contract is for the 32km Ras Al Khaimah Ring Road, which is an arterial extension of the proposed Umm Al Qaiwain express highway.
The project will cost USD108.32 million, and would be finished in 2 years’ time.
On the other hand, the second USD9.52 million contract was awarded for Phase 1 Khor Fakkan western ring road, a 4km road, which will serve as an alternative to vehicles going to and from Khor Fakkan Port and other cities in the UAE.
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