Takeover target Leighton Holdings Limited
(ASX:LEI) has scored a $US1.7 billion contract as part of a joint venture to deliver national infrastructure in Qatar.
The construction giant’s Habtoor Leighton Group joint venture with Al Jabar Engineering will work on the New Orbital Highway Project.
Under the contract the JV will design and construct the highway project for Qatar’s Public Works Authority over the next 36 months.
Habtoor Leighton Group has been in Qatar since 2005 and says the market is a very important one for the business.
Leighton’s controlling shareholder Hochtief launched a $1.5 billion takeover bid for the Australian company earlier this month.
Leighton Holdings reported a net profit of $469 million in the full 2013 calendar year.
