Arabtec awarded Dh10b Russian construction project

Dubai: Gazprom Neft and the Office of the Mayor of St Petersburg have awarded Arabtec Construction LLC, a subsidiary of Arabtec Holding PJSC, for the construction of the Okhta Centre valued at Dh10 billion.

The project consists of the construction of a 400-meter tower and five other buildings over a common podium including ancillary works to be completed over 43 months.

Work will start soon on the project, Aarabtech said on Saturday. This is the first stage of the planned complex known as Okhta Centre owned jointly by Gazprom Neft, the oil arm of the Russian national Gas Company – Gazprom and the City of St. Petersburg.

The project will include office space plus leisure and entertainment facilities as well as a library and a sports centre.

The selection of Arabtec Construction LLC came in a strong competition with Russian and European bidders and was based on the extensive experience that Arabtec has gained in recent years in the construction of high-rise buildings in the UAE, including the Burj Dubai, the tallest building in the world.

"We are certain that this selection has been done on the basis of our extensive experience and successful record of implementation of similar projects," said Riad Kamal, CEO of Arabtec.