Middle East Foundation eying contracts worth AED 1 billion


    Business 24-7 quoted Middle East Foundation Group as saying that it is bidding for tenders worth more than AED 1 billion across the GCC. The company, currently working on the Dubai Metro project, said that it hopes to win some of these key contracts.


    Mr Aidroos Hassan executive chairman of the Middle East Foundation Group said that the company is looking towards expanding its operations to other markets in the region.

    Mr Hassan said that “All these years we have been occupied with the UAE. But today we are looking to other countries within the region. We are focusing on Saudi Arabia, Qatar and Iraq. We are also currently bidding for a project in Abu Dhabi valued at AED 550 million. We have also bid for a project in Saudi Arabia valued at AED 170 million.”

    According to Mr Hassan, some leading contractors from Iraq have approached the company with business propositions in their country.

    He said that “We have even sent our delegation to study the market. It looks promising. They are even talking about the possibility of building a metro in Baghdad and we have plans to enter into a joint venture with a major contractor in order to bid for the project.”

    He added that the experience of working with Dubai Metro would be beneficial.

    Mr Hassan said that “We have already completed the diaphragm wall of the RTA project. We have also completed the diaphragm wall on Sky Villa and are now working on the piling.”

    Middle East Foundation entered into an agreement with Emaar in 2007 to be the only contractor for piling and foundation work on all its projects until 2011.

    (Sourced from Business24-7)