By Andy Sambidge
Construction company's joint venture initiatives win three new deals in Dubai and Abu Dhabi.
Balfour Beatty, the international engineering, construction services and investment group, has been awarded contracts worth $480 million in Dubai.
Commenting on the awards to its joint venture companies, Balfour Beatty chief executive Ian Tyler said: “These project wins further underline our leading position in the fast-growing UAE construction market.
"We are playing a leading part in the civil engineering, building construction and building services sectors in the UAE and expect robust growth to continue for the foreseeable future.”
Dutco Balfour Beatty has been awarded a $280 million roads and bridgeworks project to construct two major interchanges as part of the Waterfront Development in Dubai.
The project, which will be completed in 24 months, forms part of the internal Waterfront road infrastructure to serve the needs of the Waterfront Development and supplement future connectivity to the Sheikh Zayed Road.
In two further projects, BK Gulf, the mechanical and electrical engineering business also jointly owned by Dutco and Balfour Beatty, has secured two new contracts in the UAE.
The Marina Hotel project on Yas Island in Abu Dhabi valued at $76 million forms part of the new development to provide a Formula 1 standard racing complex. The hotel is due for completion in 2009.
A second project, the Trump International Hotel and tower project in Dubai, forms a gateway to the Jumeirah Palm. The project, valued at $120 million, is due for completion in December 2010.
In both projects, BK Gulf is providing complete electrical and mechanical systems for the developments.
The news of the contracts comes as Balfour Beatty announced that half-year revenue was up by 28 percent and pre-tax profit was up by 25 percent.