Meydan relaunches $1.25bn grandstand
Dubai, March 15, 2009
Dubai's Meydan has relaunched work on a $1.25 billion grandstand at a race course, appointing new contractors for the project which had been cancelled in January, a magazine reported.
Work has restarted on Nad Al-Sheba grandstand after Meydan appointed China State Construction Engineering Corporation and Dubai's Mammut Building Systems to complete the project, London-based Meed said.
Malaysian engineering firm WCT Bhd and Dubai's Arabtec Holding are seeking at least $460 million in compensation after their contracts to build the racecourse were cancelled.
Both firms are initiating a civil suit and arbitration proceedings against the developer over an alleged breach on contract for cancelling the deal. A spokesman for Meydan was not immediately available for comment. - Reuters
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