SEA - 18th February 2009
£550m JV contract in Abu Dhabi
Al Muneera forms a key part of ALDAR's £10 billion Al Raha Beach development. The contract involves the provision of a 14-story office building, sixteen apartment buildings of between 11 and 14 floors, 148 town houses and eleven luxury villas facing the development's canal and waterfront.
Al Futtaim Carillion will have a peak workforce of some 7,000 people engaged in the construction of the Al Muneera development, which is already in full swing and due for completion in April 2011.
This is Al Futtaim Carillion's second major project for ALDAR in Abu Dhabi, having been awarded a £250 million contract for the Marina Hotel on Yas Island, in June 2008.
Commenting, Carillion Chief Executive, John McDonough, said: "Over the last 35 years, Al Futtaim Carillion has established a strong reputation for delivering high quality projects for blue-chip and Government customers. Our selection for this prestigious project further enhances that reputation.
"We look forward to working closely with ALDAR on the Al Muneera project and to developing a strong, long-term relationship to support delivery of the substantial programme of developments that ALDAR has in Abu Dhabi over the next ten years.
"As the enormous growth we have seen in Dubai over recent years slows down, we expect strong growth in Abu Dhabi to keep us on track to achieve our objective of broadly doubling Carillion's share of revenue from our joint venture businesses in the Middle East from £337 million in 2007 to around £600 million by the end of 2009"
Notes to editors
Carillion is one of the UK’s leading support services, Public Private Partnership project and construction companies. The Group has annual revenue of around £5 billion, employs some 50,000 people and operates across the UK, in the Middle East, Canada and the Caribbean.
In the UK, Carillion’s principal market sectors are Defence, Education, Health, Facilities Management & Services, Rail, Roads, Building, Civil Engineering and Utilities Services.
In the Middle East, Carillion’s principal market sectors are Construction and Facilities Management. In Canada and the Caribbean, the Group’s main sectors are Health, Roads Maintenance and Construction.
Carillion has a substantial portfolio of equity investments in Public Private Partnership projects, particularly in the Defence, Education, Health and Transport sectors.
In the inaugural Sunday Times Best Green Companies Awards in May 2008, Carillion secured first place in the category for large and medium-sized companies with high environmental impact and second place overall.
This and other Carillion news releases can be found at www.carillionplc.com
For further information contact
John Denning, Director Group Corporate Affairs, Carillion plc 01902 316426
