Turkey’s Tekfen signs $2.1 bln engagement letter in Qatar
ISTANBUL
AA photo
Tekfen Holding has announced that its construction unit signed an engagement letter worth $2.1 billion for a highway project in Qatar, in a written statement to the Public Disclosure Platform (KAP) on Aug. 23.The company noted that the highway project, which will be 34 kilometers long and have 10 lanes in total along with a number of viaducts, road junctions, overpasses and underpasses, will be built and submitted on the turnkey model.
The Al Khor Expressway project, which is worth 7.6 billion Qatari riyal (around $2.1 billion), is planned to be submitted in the next 36 months, according to the statement.
The final agreement will be signed after the negotiations are finalized and will be shared with the public, said the company.
After Tekfen made the announcement, its stocks rose by around 10 percent in the morning session.