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Habtoor Leighton Group Awarded $US608m Qatar Contract

Habtoor Leighton Group Awarded $US608m Qatar Contract
Apr 07, 2015 By Wise-owl

Habtoor Leighton Group, a subsidiary of Leighton Holdings (ASX:LEI), has been awarded a QR2.22bn, or $US608m, contract to build a “mega” reservoir in Qatar. The joint venture between Habtoor Leighton and Kahramaa will be responsible for the construction, testing and commissioning of five reservoirs as well as pumping stations, pipework and mechanical, electrical, civil, structural and architectural work for a 100 hectare PRPS facility in Rawdat Rashed. The reservoirs will have a capacity of 100 million gallons each and will be the largest reinforced concrete reservoirs in the world. The Middle East based company is 45 per cent owned by Leighton Holdings. The project will start work in late April and is expected to be completed in Q2 2018.

HLG CEO and managing director Jose A. Lopez-Monis said the project is aligned with the company’s core capabilities and validated the high value placed on the Australian company by the client. “Qatar is a very important market for HLG. We have had a local office in Doha since 2005, and during this time we have been involved in a number of projects perfectly aligned with our expertise and experience” he said. Qatar’s General Electricity and Water Corporation Kahramaa is seeking to expand its water capabilities as the country continues to expand its cities and businesses. This project is the seventh awarded to Habtoor by Kahramaa. Shares of the parent company Leighton Holdings Limited are up 48c, or 2.30 per cent, at $21.32 per share around 2pm on Tuesday. LEI is up 5.49 per cent in the last 12 months.

 

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Wise-owl Author: Wise-owl Apr 07, 2015

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