Friday 28 November 2014
 
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MMG's recovery plan gets board approval

Saudi contractor Mohammad Al Mojil Group's (MMG) board had approved a recovery plan that uses most of its existing capital base to pay off debts and new cash raised through a share issue, it said on Sunday. The firm, which got

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Bapco achieves new safety record

A new record in safety has been achieved by employees of the Bahrain Petroleum Company (Bapco) and its contractors with the completion of three million hours or 111 days without a lost time injury (LTI). The achievement coincides

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Al Hassan achieves new safety milestone

Leading Omani contractor Al Hassan Engineering Company (AHEC) has achieved a major milestone clocking 2 million lost time injury (LTI)-free man-hours at the OOCEP Gas &Condensate Export Pipelines Project in the Sultanate. To m

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Drake and Scull profit rises 61pc in 2013

Dubai-based Drake and Scull made a net profit of 185 million dirhams ($50.37 million) in 2013, up from 115 million dirhams in 2012, the building contractor said on Thursday. Fourth-quarter profit was 40 million dirhams, according

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Bahrain Airport Company acquires Hochtief JV

Bahrain Airport Company (BAC) said it has taken full control of HOCHTIEF Facility Management Bahrain, its joint venture with the top German construction group, in line with its strategy to boost efficiency of airport’s operations and mai

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Bahrain Airport Company acquires Hochtief JV

Bahrain Airport Company (BAC) said it has taken full control of HOCHTIEF Facility Management Bahrain, its joint venture with the top German construction group, in line with its strategy to boost efficiency of airport’s operations and mai

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Arabtec swings to Q2 profit of $25 million

Dubai's largest contractor Arabtec swung to a profit in the second-quarter of Dh92.4 million ($25.16 million), compared with a loss of Dh11.6 million in the corresponding period in 2012, it said in a bourse statement on Thursday.

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MMG appoints advisor for debt restructuring

Saudi contractor Mohammad Al Mojil Group (MMG) said on Monday it had appointed the investment banking arm of Gulf International Bank to advise it on a restructuring of its debts. No value of the amount of debt being restructured w

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Arabtec reports 20pc rise in Q1 revenue

Dubai-based Arabtec, a major contractor specialising in complex projects, posted a 20 per cent rise in revenue during the first quarter of 2013 to Dh1.55 billion ($421.8 million), driven largely by strong performance in Saudi Arabia and Qatar op

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New Doha airport opening delayed till June

  The opening of the first phase of Qatar's planned $11 billion new airport would be delayed until June next year after a contractor was dropped from the project, Qatar Airways chief executive has said.  

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