TDIC and Leighton join forces

by ArabianBusiness.com staff writer Saturday, 15 December 2007

Abu Dhabi's Tourism Development & Investment Company (TDIC) has formed a joint venture with contractor Gulf Leighton.

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The move is aimed at TDIC-Leighton Contracting undertaking various construction contracts for TDIC developments.
Among the projects are the 6.5km Saadiyat Link road, which will connect Abu Dhabi's Shahama district to Saadiyat Island, the Eastern Mangroves Hotel and the new TDIC headquarters being built next to Maqtaa Bridge.

The agreement is expected to generate annual revenue of $270 million (AED 991 million) in the first year, to a minimum of $1.4 billion in the fifth. TIDC owns 51% of the new venture.

"This new joint venture will adhere to global standards in human resources, health, safety and environment deployment," said Lee Tabler, CEO, TDIC.

"While Gulf Leighton will bid for additional TDIC contracts, it will be judged on a purely professional and commercial basis in a transparent and competitive process.

"The size, scope and complexity of some of the projects we are planning here require world-class contractors who prioritise environmental sustainability in the design and construction processes."



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