French group Bouygues plans Qatar JV
Paris, January 18, 2012
Bouygues Construction, part of French conglomerate Bouygues, is to set up a joint-venture in Qatar, which is to host the 2022 soccer World Cup.
'We confirm the creation of a co-enterprise with a Qatari company,' the spokesman said, referring to a newspaper report in France's Les Echos on Tuesday.
'The Qatari company will take 51 percent in this co-enterprise ... the company is being registered and its composition should be official in the next days,' he said.
Qatar is committed to investing $20-$25 billion in tourism infrastructure development ahead of the soccer tournament, the head of its state-run tourism authority told Reuters in August.
Bouygues Batiment International, the international arm of Bouygues Construction, needs to tie up with a Qatari group to be able to participate in any tender offers, Les Echos said.
In Qatar, BBI is building the Barwa Financial District in Doha, a 700,000 sq m real estate complex.-Reuters