Qatar awards $2.1-billion project to Turkey’s Tekfen

Australia’s IFM buys 40% stake in Turkey’s port of Mersin
August 3, 2017
TANAP to receive $500 million additional funding from Europe
August 6, 2017

Qatar awards $2.1-billion project to Turkey’s Tekfen

Tekfen Construction, a unit of Turkey’s Tekfen Holding, has signed a pre-agreement with Qatar’s Ministry of Municipality and Environment for the construction of the Al Khor Expressway project.

The $2.1-billion project aims to build a 34-km-long highway with 10 lanes along with viaducts, road junctions, overpasses and underpasses.

The project is expected to be completed in 36 months.

Speaking at the signing ceremony of the agreement in Ankara, Turkish Transport, Maritime and Communications Minister said that the number of projects undertaken by Turkish contractors in Qatar reached 119, amounting to a $15 billion in value.

In a separate press release, the company said Tekfen’s projects in Qatar rose to four with this contract, which includes the construction of a nearly 2.5-km highway with two viaducts. 

Tekfen, a Turkish conglomerate based in Istanbul, has many subsidiaries engaged in a diverse range of construction activities including power generation, airports, petroleum, roadways, infrastructure projects, building complexes.

Tekfen primarily operates in Turkey, the Middle East, the Caspian region and North Africa.

The company’s shares in Borsa Istanbul went up around 17 percent following the announcement.

Share this article with your professional network:

Powered by MaviKelebek