An affiliate of Strabag SE has achieved a multi-million Euro assignment in Oman.
The Austrian construction company said yesterday (Thurs) its Arabian subsidiary company would build a new port in Duqm, a port city in Oman, for 150 million Euros. The deal features the construction of numerous shipyards but also main roads, Strabag explained, adding that its affiliate was also asked to create a network of water pipes and new electricity and telecommunications settings.
Strabag is focusing on Central and Eastern Europe (CEE) but is also strongly engaged in the Arab region. The company is expected to keep focusing on activities in Poland as the Eastern European (EE) state achieved annual gross domestic product (GDP) increases throughout the global crisis. No other country on the whole continent has managed the same since 2008.
Another aspect set to increase Strabag’s operations in the European Union (EU) member state is the expected decline of public investments into traffic infrastructure projects in Austria and Germany as the country’s governments are pressurised to lower the national debt rates.
Strabag carried out orders worth 6.13 billion Euros in the six months of 2011, up by 17 per cent compared to the first half of last year. The firm headed by Hans Peter Haselsteiner has 73,000 employees and is listed on the Prime Market of the Vienna Stock Exchange (WBAG). One share was worth 23.45 Euros at 3pm today, up from 20.50 Euros on 19 August.
Strabag is Austria’s biggest construction company ahead of Salzburg-based Alpine Bau AG (Alpine) and Viennese rival Porr AG.
Alpine’s affiliates in Poland and Germany were asked to set up an eight-storey hotel at Warsaw Chopin Airport (WAW) for 32 million Euros, it emerged last month. The five-star hotel will feature more than 220 rooms, several restaurants and a spa area, according to Alpine.
Porr announced in July the company would create a 90-kilometre (km) stretch of a new high-speed railway connection between the German cities of Erfurt and Leipzig. German rail firm Deutsche Bahn (DB) will transfer 200 million Euros to Porr for the order which also features the construction of 22 km of noise protection barriers.