Contract awarded for new $320m Oman expressway
Malaysian builder WCT expects to complete project in three years
Malaysian builder WCT has won a $320 million (1 billion ringgit) contract to build a 44.75km expressway in Oman, according to Reuters.
WCT, in an 80:20 joint venture with Oman Roads Engineering Co LLC, expects to finish the work in three years, according to a local stock exchange filing.
"The contract to be entered is expected to contribute positively to the group's earnings and net assets for the financial years ending December 31 from 2012 to 2015," WCT said.
Earlier this week, another Malyasian firm, Ho Hup Construction Company, was awarded an $85m (RM267m) contract to design and build civil and electro-mechanical works for the Al-Zuhour Water Project in Baghdad.
The turnkey project, awarded by the Ministry of Municipalities and Public Works, will see a plant created with a capacity to produce 10,000 cubic metres per hour. The contract also includes supply and installation of equipment and pipe as well as operation and maintenance.