Turkey’s Tekfen wins $200 million contract in Qatar

ISTANBUL

Turkey’s Tekfen Holding has announced that its construction unit has won a $200 million contract to build a highway in Qatar. 

“One of our subsidiaries, Tekfen Construction, won construction works for the Eastern Industrial Road (Ashghal) from the Qatari Public Works Directorate for $729.6 million Qatari Riyal (nearly $200 million),” the company said in a statement to the Public Disclosure Platform (KAP) on Aug. 1. 

The project is slated to be completed over a 27-month period, according to the statement. 

In a separate press release, the company said Tekfen’s projects in Qatar rose to four with this contract, which includes the construction of a nearly 2.5-km highway with two viaducts. 

The ongoing projects of the company in Qatar reached a value of $2.5 billion, according to the release. 

The total business value of Tekfen’s projects has risen to nearly $5 billion in Qatar since its first entrance into the country in 2005, it added.