Carillion bags $2.2bn Middle East orders

Britain's second biggest builder wins range of UAE contracts, including work on Burj Dubai, Motor City.
Carillion bags $2.2bn Middle East orders
By Sean Cronin
Thu 26 Jun 2008 11:59 AM

Carillion, Britain’s second biggest builder, bagged contracts worth $2.2bn in the Middle East and expects to double revenues next year.

Al Futtaim Carillion, which is 49 percent-owned by the British company, won contracts that include a business park being developed by the Dubai Multi Commodities Centre Authority, and infrastructure work on the Burj Dubai, the world’s tallest tower.

The company also won another infrastructure package on the Motor City theme park, the company said in a regulatory filing to the London Stock Exchange on Thursday.

“Our Middle East business is well positioned in strong growth markets and continues to negotiate new work with long term key customers,” said CEO John McDonagh.

“We are therefore increasingly confident that we will double revenue from the region to over 600 million pounds by the end of 2009, at stable margins of 6%.”

In Abu Dhabi, Carillion won a $400 million contract to build a hotel for a new Formula One racing circuit as well as an infrastructure package for a new aluminum smelter.

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