By Andy Sambidge
Carillion in talks about first move into Qatar market after Abu Dhabi successes.
Construction giant Carillion is in talks about moving into the Qatar market as it looks to build on its Middle East success, it was reported on Thursday.
The contractor’s half-year turnover from the Middle East increased by 78 percent to £321.6 million ($525m), largely down to a huge shift in workload from Dubai to Abu Dhabi, reported Construction News website.
Now company chiefs are eyeing further opportunities in Qatar, possibly by early 2010.
“It will be Carillion’s first move into Qatar. We are in discussions with a partner there and are looking at some work in early 2010. It is likely to be a mixed-use development,” he told the website.
Carillion’s Abu Dhabi turnover increased 17-fold to £189.7m in the first half of this year, compared to the same period in 2008. It was boosted by the construction contract for the £275m Marina Hotel, which is part of the Abu Dhabi Grand Prix circuit.
Dubai work contributed just £74m in the six months to June 30, the company added.
Overall, pre-tax profits at Carillion rocketed 92 per cent in the first half of 2009.
The UK now accounts for 78 percent of Carillion’s turnover, down from 86 percent 12 months ago – 12 percent of turnover is now Middle East based and 10 percent comes from Canada.