Sunday, Dec 07, 2008
SYDNEY -(Dow Jones)- Australian construction firm Leighton Holdings Ltd. (LEI.AU) announced Sunday it has won a A$2 billion contract to build a new terminal at Dubai Airport.
Dubai Department of Civil Aviation awarded the contract to Leighton's 45%-owned Al Habtoor Leighton Group and its joint venture partners, Murray and Roberts Holdings Ltd. (MUR.JO) and Takenaka Corp.
Leighton Chief Executive Wal King said Sunday the deal had been struck against the backdrop of a worsening global economic picture.
"I don't believe the (United Arab) Emirates is going to collapse, but you're going to see significant adjustments," he told Sky News television.
"You will see some projects being put on hold, you will see some projects being canceled as they adjust to the realities of this new world," King said.
The new terminal will accommodate 20 aircraft, including the new-generation Airbus A380.
-By James Glynn, Dow Jones Newswires; 612 8235 2955; james.glynn@dowjones.com
(END) Dow Jones Newswires
December 07, 2008 05:13 ET (10:13 GMT)
