5th Sep 2007 07:02
Carillion PLC05 September 2007 5 September 2007 Carillion's joint venture business in the Middle East appointed preferred bidderfor construction projects worth £470 million with framework agreements for up to a further £5.3 billion of construction work Carillion's joint venture business in the Middle East, Al Futtaim-Carillion, inwhich Carillion is 49 per cent partner, has been appointed preferred bidder andframework contractor for a number of major projects in the Middle East and NorthAfrica. The total value to Carillion of the preferred bidder contracts is £192million. The work to be negotiated under framework agreements has a potentialvalue to Carillion of up to £2.6 billion over the next 7 years. In Egypt, Al Futtaim-Carillion has been appointed preferred bidder for the firstphase of construction of the Cairo Festival City project, which has an estimatedconstruction value of some £2 billion, by its partner and the project developer,the Al Futtaim Group. Work on the first phase of construction, a £220 millionretail shopping mall, will start in January 2008 and is scheduled for completionin October 2010. In Abu Dhabi, a Carillion joint venture has been appointed preferred bidder onits first major contract for the emirate's premier developer, Aldar, worthapproximately £250m over three years. In Dubai, Carillion's joint venture business, Al Futtaim-Carillion, willundertake up to a further 2.9 million square metres of construction work atFestival City worth in the region of £3.5 billion over the next six years, undera new framework agreement. As a result of these successes Carillion's pipeline of probable orders for theMiddle East now stands at £2.1 billion, with the potential for this to increasesubstantially as the developments in Cairo, Abu Dhabi and Dubai progress. Commenting, Carillion's chief executive, John McDonough said: "The progress weare making in the Middle East represents a further major step towards deliveringCarillion's previously announced strategic objective of more than doublingrevenue from this region over the next five years through extending our existingoperations in Dubai and Oman into new territories." For further information contact John Denning, Director Group Corporate Affairs 01902 316426 Notes to editors Carillion is one of the UK's leading support services, construction and PublicPrivate Partnership project companies. The Group has annual revenue of around £4bn and employs over 50,000 people. The Group operates across the UK, in the Middle East and in Canada and theCaribbean. In the UK, the Group has eight principal market sectors - Defence, Education,Health, Building, Facilities Management and Services, Roads, Rail and CivilEngineering. In the Middle East, the Group's two principal market sectors are Constructionand Facilities Management. In Canada and the Caribbean the Group's main sectors are Health, RoadsMaintenance and Construction. The Group is a leader in Public Private Partnership projects, particularly inthe Defence, Education and Health sectors in the UK and in the Health sector inCanada. This and other news releases relating to the Group can be found atwww.carillionplc.com PhotographsHigh resolution photographs are available free of charge to the media atwww.newscast.co.ukTelephone 0208 886 5895 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Carillion Plc