Dubai - Mubasher: Britain’s Carillion on Monday said that it has begun bankruptcy proceedings after failing to reach a settlement with authorities and lending banks, which raised questions about the future of its projects in the UAE.
The British construction and support services company owns a slew of projects in the UAE along with a joint venture with Dubai-based conglomerate Al-Futtaim Group.
Carillion's projects in the UAE include Al Jalila Hospital, The Lofts tower, Dubai Festival City, New York University in Abu Dhabi, Al Raha Beach, Yas Island, Dubal, and Al Bahr Towers, according to Al-Futtaim Carillion's (AFC) website.
Al-Futtaim Group has a 51% stake in Al-Futtaim Carillion, while the UK's key provider of public services owns the remaining 49%.
In March 2017, Al-Futtaim Carillion won an AED 2.2 billion contract from Expo 2020 Dubai to deliver the Theme districts and public works for the Expo 2020 site situated in Dubai South.
The Dubai Expo 2020 is a $7 billion exhibition project expected to attract 25 million visitors.
Carillion also has projects pertaining to the Qatar World Cup 2022.
