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Posted On: 27 March 2012 01:25 pm
Updated On: 12 November 2020 02:11 pm

Qatar plans to award three tenders for $7.4bn port

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Qatar plans to award three tenders this year for the construction of the country’s new QR27bn ($7.4bn) port, the state-run Qatar News Agency said, citing Nabil Al-Bouenain, executive director of the New Port Project. A total of QR8.5bn have been spent so far on 15 separate projects, the news agency said, citing Al-Bouenain. About 17 contracts will be issued in the coming years before the port is completed in 2016, QNA said. Referring to the cost of the port project, he said: "I don't think the cost will increase, we hope it will decline, but we are committed to achieving it according to the highest international standards." He added that the two major concluded contracts so far were a QR3.2bn deal with China Harbor, and a second worth QR4.5bn with Middle East Dredging Company (MEDCO). Infrastructure projects will be exclusively awarded to Qatari firms. In case of a foreign partner, the Qatari side's share must not be less than 51 percent, Al-Bouenain said. For equipment projects and marine projects, they will be subject to competition with foreign companies due to the lack of local manufacturing of some of the equipment, he added.