New JV to target 200-700 million dollar infrastructure projects

Madrid, 6th June 2011:   Spain-based Fomento de Construcciones y Contratas (FCC), one of Europe's largest infrastructure and environmental services companies, has signed a joint venture with Abu Dhabi's Commodore Contracting Company to take part in the UAE's infrastructure development programme. The two companies will launch joint bids for transport infrastructure, services and public building projects with an estimated value of 200 to 700 millon dollars,  in Abu Dhabi and Dubai as well as other emirates.

The tie-up consolidates FCC's footprint in the region.  Through its Austrian subsidiary Alpine, FCC built Dubai Cricket Stadium in 2008 and has a 100 million dollar construction project underway at Borouge in Abu Dhabi (owned by Abu Dhabi National Oil Company and Austrian Borealis).  Earlier this year, FCC signed a joint venture with Qatar's Petroserv to jointly bid for key infrastructure projects ahead of Qatar's 2022 World Cup.

FCC brings its knowhow of building iconic global infrastructure such as the renovation of FC Barcelona's Nou Camp stadium and Real Madrid's Bernabeu stadium as well as key transport infrastructure such as the longest tunnel in the world (St Gotthard tunnel between Italy and Switzerland), tunnels for London's new railway project Crossrail and Central America's first metro system.

This agreement is part of FCC's global expasion strategy that has taken the Company into over 50 countries to date and which it hopes will lead to at least 60% of its revenue coming from outside Spain.

Chairman and CEO Baldomero Falcones, said: "We're very proud to have a partner like Commodore that is well-established in the region. This is a great opportunity and a significant milestone for us, which has come about in part thanks to the excellent relationship between Spain and Abu Dhabi.''

Finding local partners to develop key infrastructure projects has been key to FCC's expansion in the Gulf and MENA region, for example: in Qatar (Petroserv), Algeria (ETRHB Haddad) and Egypt (Orascom).

-Ends-

About FCC:
FCC has a wide experience accumulated over more than 100 years of history and specialises in infrastructure, environmental services and renewable energy. The company serves as a reference in the execution of civil engineering and building work, both in national and international markets (12th largest contracting company worldwide according to ENR). The Company is listed on the Madrid stock exchange - IBEX and is one of the ten Spanish companies on the Fortune 500 list of Companies.
FCC's latest news can be found at: http://comunicacion.fcc.es/en/index.html

FCC's key Gulf/MENA infrastructure projects 
Qatar: In 2010 FCC partnered with Qatar's civil engineering firm Petroserv to tender for projects in the Gulf region.

UAE: In 2008, Alpine completed the construction of the Dubai Cricket Stadium in Dubai Sports City. In January 2011, FCC's Austrian construction subsidiary - Alpine was awarded a US$ 111 Million contract to construct the non-process buildings of the Borouge 3 expansion project being executed in Ruwais, Abu Dhabi. (Borouge is a joint venture between Austrian Borealis and the Abu Dhabi National Oil Company (ADNOC), one of the world's major oil companies).

Saudi Arabia:  In February 2011, FCC's water management unit - aqualia won a 37 million dollar contract to manage water leaks in Riyadh for Saudi Arabia's National Water Company.

Egypt: In 2010, FCC's water management aqualia in conjunction with Orascom won Egypt's first PPP concession to build a wastewater plant in New Cairo.

Algeria: FCC is currently building two railway lines in Algeria worth over 1 billion dollars each in partnership with Algerian company ETRHB Haddad.

Maria Ramos
UK Director
DoubleIC, SL
UK: + 44 (0) 75 2222 3314
SPAIN: +34 600 113 187

Press Release 2011