Depa, Lindner abandon $245m Doha airport JV
- Saudi Arabia: Monday, June 25 - 2012 at 11:18
Lindner Depa, a joint venture firm between Dubai's interior fitting firm Depa and Germany's Lindner has announced the cancellation of its contract to fit out the new Doha International Airport, Reuters has reported. The Dhs900m ($245.03m) contract to fit out the 17 lounges at the new $15.5bn airport was the largest project in the Nasdaq Dubai-listed firm's backlog. The contract was cancelled after the JV's "refusal to accept new and non-favourable contract terms and conditions ... after being denied full access to the project site to perform its contract scope of work." The termination came days after the new airport revoked Lindner Depa's contract performance bond and advance payment guarantee, worth Dhs117m.
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