Dubai's Arabtec wants contracts in new markets
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Dubai's Arabtec wants contracts in new markets

Dubai's Arabtec wants contracts in new markets

Riad Kamal, chief executive of Arabtec has said the firm is focusing on winning projects in new markets following the downturn in Dubai and does not require any additional funding, Reuters has reported. "We've tendered in Turkmenistan, Azerbaijan, Angola...some of this work may come our way in the very near future," he said. Arabtec has no plans for new capital raising, with funding coming from advance payments on its projects, he said. Last week, Arabtec's chief financial officer said in an interview the firm has bid for enough work to achieve Dhs7.4bn ($2.02bn) worth of orders.

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