Italy’s Salini Impregilo targets Middle East expansion
Construction firm is bidding on GCC projects with a combined value of $3 billion
Italian construction and engineering firm Salini Impregilo, which worked on the building of the Sheikh Zayed Grand Mosque in Abu Dhabi, is eyeing further expansion in the Arabian Gulf, as it bids on regional projects worth a combined $3 billion (Dh11bn).
“The Middle East, in particular Saudi Arabia, Oman and the UAE, offers many opportunities for the group, which has one of the biggest portfolio of contracts by value in the region of all foreign infrastructure companies,” the group said in a statement to media on Monday.
Among the projects it is eyeing, Salini Impregilo intends to bid for Neom, Saudi Arabia’s planned $500bn mega-project announced last year. The company is also eyeing other government projects as the GCC ramps up construction activity amid stabilising hydrocarbons prices.
The group has prequalified for the first phase of The Avenues retail project in Riyadh with an estimated development value of $1bn. The Avenues comprises a shopping centre, two residential towers, two hotels and a tower for offices and health services.
Salini Impregilo has been present in the Gulf region for more than 50 years, and has worked on various projects such as the Kingdom Centre in Riyadh.
Last year, it won a $435 million contract to build the Meydan One Mall in Dubai, as well as the sub- and super-structures for adjoining parts of the scheme.
The company is also active in the water desalination sector through its subsidiary, Fisia Italimpianti.
Updated: May 8, 2018 07:00 AM