UAE-based general contractor ALEC and Lebanon-based design-build industrial contractor BUTEC have launched a new joint venture which will target the region’s utilities, industrial and environmental sector-based projects, it was announced on Tuesday.
ALEC said in a press statement that the JV will consolidate respective strengths and expertise of the two partners while helping to streamline costs.
ALEC’s managing director, Barry Lewis, said: “Our decision to create a new JV with BUTEC stems from a wider industry move to collaborate more closely, particularly on major infrastructure projects, while pooling strengths to provide a faster, more efficient solution for clients. In working with BUTEC, we are capable of adding significant value to the region’s future power, water and oil & gas initiatives.”
BUTEC's general manager Tony Hanna said: “In view of ALEC’s extensive experience on major regional projects, such as Dubai International Airport Concourses A & D with the associated rail link and upgrade of Terminal 1, the Dubai Marina Mall and most recently, One Za’abeel, and BUTEC’s strong design-build capabilities in the industrial sectors, this partnership is structured to complement our respective strengths, and to create a stronger value proposition for our clients.”
According to data released by BNC Publishing in August last year, 44% of the total value of new GCC-based project announcements came from the industrial sector.
(Writing by Saket S; Editing by Anoop Menon)
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