Arabtec secures Russian tower contract

27 April 2008
Dubai-based Arabtec Construction has received a letter of award for the AED10bn ($2.72bn) contract to build the Okhta Centre in St Petersburg in Russia.

The project involves the construction of a 400-metre tower and five other buildings over a common podium as well as other works around the site. The contract duration is 43 months.

This is the first stage of the planned complex known as Okhta Centre, which is jointly owned by Gazprom Neft, the oil arm of the Gazprom, and the City of St Petersburg.

The project will include office space, leisure and entertainment facilities as well as a library and sports centre.

Arabtec beat competition from European and Asian contractors for the project. The contract is the first to be awarded to Arabtec outside the Middle East and Pakistan.

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