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Carillion JV nabs £1.1bn Middle East work

A Carillion joint venure has secured five new orders in the Middle East worth around £1.1 billion.

Al Futtaim Carillion - in which Carillion has a 49 per cent - has secured three projects in Dubai and a further two in Abu Dhabi.

The Dubai projects include:

  • A partnering contract for the £465 million TimeZone Business Park development of the Dubai Multi Commodities Centre Authority

  • Infrastructure works for the Burj development of Emaar Properties worth up to £200 million

  • Building and infrastructure works for the Motor City development of Union Properties potentially worth in the region of £160 million.

The Abu Dhabi deals include a £200 million contract to build the Race Track Hotel near the new Formula 1 racing circuit on Yas Island for developer Aldar and infrastructure works worth over £100 million for new smelter facilities for Emirates Aluminium.

Carillion chief executive John McDonough said: "Our Middle East business is well positioned in strong growth markets and continues to negotiate new work with long-term key customers.

"We are therefore increasingly confident that we will double our revenue from the region to over £600 million by the end of 2009, at stable margins of some six per cent. Beyond that, the outlook is for continuing growth as our markets in the region are expected to remain strong for the next five to ten years."