Re Contract

RNS Number : 5616X

Carillion PLC

26 June 2008

 



26 June 2008

Carillion's Middle East joint venture business has negotiated new orders worth approximately £1.1 billion

Carillion's joint venture business in the Middle East, Al Futtaim Carillion (AFC), in which Carillion is a 49% per cent partner, has negotiated five new orders with a total value of approximately £1.1 billion.

These include three projects in Dubai  

• 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 and

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

and two projects in Abu Dhabi

• a £200 million contract to build the Race Track Hotel, straddling the new Formula 1 racing circuit on Yas Island, for Aldar, Abu Dhabi's premier developer and

• infrastructure works worth over £100 million for new smelter facilities for Emirates Aluminium.  

Commenting on these substantial new orders 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.'

For further information, contact 

John Denning, Director Group Corporate Affairs [phone].

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.

Carillion secured first place in the category for large and medium-sized companies with high environmental impact and second place overall in the inaugural Sunday Times Best Green Companies Award published in May. 

 

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