Lebanon Businessnews News
 

BUTEC-Elecnor joint venture wins $180 million deal
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A joint venture between local construction and engineering firm BUTEC and Spain-based contractor Elecnor has been awarded a deal worth $180 million by Algerian Qatari Steel Co. (AQS) for a project in Algeria, a source at BUTEC said.
Both BUTEC and Elecnor are engineering, procurement and construction (EPC) contractors.

The source said that the 30-month project relates to the Balance of Plant (BOP) package of AQS’ steel complex in Bellara industrial area. It involves the construction of concrete utility buildings and steel-structure utility buildings. The contract also includes setting up concrete foundations as well as pipe racks and related electrical and piping works.

BUTEC, which was founded in 1964, has affiliates and branches in a number of countries that include Algeria, Iraq, Saudi Arabia, the UAE, Qatar, Jordan, and Syria. Its major shareholders are businessman Nizar Younes and his son Ziad.
Reported by Shikrallah Nakhoul
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Date Posted: May 20, 2016