- Muhibbah Engineering’s 49 percent-owned Muhibbah Engineering Middle East has formalized a contract with the Economic Zones Company of Qatar (Manateq) to undertake the construction of road and infrastructure works at Um Alhoul Economic Zone.
- Manateq is the leading developer and operator of specialized economic zones, logistics parks and warehousing parks in Qatar, being established by the Minister of Business and Trade of the State of Qatar and owned by the Qatari Government.
- The contract is worth approximately Qatari Riyal 356.7 million (RM438.1 million).
- Construction works for the project will commence immediately, and are expected to be completed by 2Q18.
Significance: The contract is expected to contribute positively to Muhibbah Group’s profits and net assets for the current and future financial years.