Hochtief-Led Group Seals $1.5 Billion Riyadh Airport Contract
This article is for subscribers only.
A group led by Hochtief AG secured a 1.3 billion-euro ($1.5 billion) contract to expand Riyadh airport as Germany’s largest builder increases its focus on infrastructure projects.
Hochtief has a 55 percent stake in the joint venture, which also includes Shapoorji Pallonji Mideast and Nahdat Al Emaar, the Essen, Germany-based company said in an e-mailed statement. The work to upgrade two existing terminals has already started and should be completed by May 2019.