Abu Dhabi: UAE construction company Al Jaber Group will open an office in Saudi Arabia and has established an office in Australia to tap business opportunities in the two countries, the group's chief operating officer Fatima Obaid Al Jaber said here Wednesday.
Diversification
Speaking at the Arabian World Construction Summit organised by MEED, Al Jaber said the move is part of the group's plans to diversify their business geographically.
"These two countries have a booming construction industry. These are the new markets we are looking at. We are looking at starting legal registration in Saudi Arabia. There are also some major mining projects in Australia," said Al Jaber.
Al Jaber told reporters the group will bid for the "whole package" of the Etihad Rail project as well as the Abu Dhabi International Airport expansion project.
"A sulphur-handling project in Ruwais has been awarded to us recently," she added.
However, Al Jaber declined to discuss the group's debt restructuring plans.
Reuters previously reported that a banking committee to thrash out a debt restructuring with Abu Dhabi-based Al Jaber Group has been appointed, the logical next step towards agreement on a debt deal. The Al Jaber Group earlier said it intends to reschedule certain debts.
Al Jaber said last year it was in talks with lenders to discuss the terms of its facilities.
A source familiar with the debt talks told Reuters in December that Al Jaber was seeking a one-year delay in the repayment of certain debts.
