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Sun 6 May 2012 03:29 PM

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Arabtec-TAV group preferred bidder for Abu Dhabi deal

Abu Dhabi is expanding the international airport to meet the growth of Etihad Airways

Arabtec-TAV group preferred bidder for Abu Dhabi deal

A group including Arabtec Holding, TAV Insaat and Consolidated Contractors is the preferred bidder for the construction of the new terminal building at Abu Dhabi airport.

“Abu Dhabi Airports is currently in discussions with the preferred bidder to finalise all details of the contract prior to its signing, and before officially announcing the winning contractor of the midfield terminal building at the capital’s airport in June this year,” according to an e-mailed statement from Abu Dhabi Airports today.

Abu Dhabi is expanding the international airport to meet the growth of Etihad Airways, among the fastest-growing Middle Eastern carriers. The airline ordered 100 jets at the 2008 Farnborough Air Show and is on the acquisitions trail, with stakes in Air Berlin, Air Seychelles and Aer Lingus.

The UAE’s capital city and holder of about seven percent of the world’s proven oil reserves plans to spend US$500bn on industry, tourism and culture through 2030 to reduce its reliance on hydrocarbons.

The re-development and expansion plan will increase the airport’s capacity to more than 40m passengers a year, the statement added.

The 700,000-square-meter building will have piers that can accommodate as many as 65 aircraft at one time, including the wide-body Airbus SAS A380 and Boeing 747-800 planes, Abu Dhabi Airports said. The project is scheduled for completion in 2017.

Etihad vies for transfer traffic with Gulf rivals Emirates, based in Dubai and the world’s largest carrier by international traffic, and Qatar Airways. All three are seeking to attract long-haul passengers away from traditional hubs in locations such as London, Paris and Frankfurt.

Arabtec’s CEOr Riad Kamal did not answer calls to his mobile seeking comment.

Arabtec has an order backlog of around AED14bn, a level similar to this time last year, CFO Ziad Makhzoumi said on April 25.

Arabtec shares gained 1.7 percent to AED3.50 in Dubai at the 2 pm close in Dubai The stock has more than doubled in the past year compared with a 2 percent decline for the benchmark DFM General Index.

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Dr. Kaltakji 8 years ago

It will be a long Cost Engineering process by ADAC Team before final approval especialy we are talking about 750 Million AED gap between the first(TAV) and second bidders(HYUNDAI-KUMHO )
So, Quality & Risk Management are the major issues here ????

Good Luck ADAC Team !!!