Saudi Oger reached a deal with a group of leading banks to secure a landmark US$800mn senior term loan facility and a US$1.05 billion advance payment guarantee facility to fund the King Abdullah Project 2.
Bauer International is currently constructing a pedestrian tunnel at Nation Towers in Abu Dhabi, which, going under the existing Corniche Road, will link the shopping complex and other components to a purpose built beach club.
Egypts Orascom Construction (OCI) posted a 15 per cent rise in second-quarter net profits and said it expected orders to grow this year as governments in the Middle East try to create more jobs by boosting infrastructure spending.
The market for construction machinery in the Africa/Middle East region totaled US$6.9 billion in 2010, representing six per cent of global demand, according to a new report from Freedonia Group.
Caterpillar saw global retail sales of its construction machinery jump by 35 per cent in the three months to the end of July, though the pace of growth weakened in most regions
