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L&T Signs Contract To Build FIFA World Cup Football Stadium

By Religare

Larsen & Toubro has said that its construction arm, along with its JV partner in Qatar, Al Balagh Trading & Contracting, has signed a contract to build a 40,000 seater stadium, as part of the sports infrastructure being readied by the Emirate in preparation of the 2022 FIFA World Cup.

L&T Signs Contract To Build FIFA World Cup Football Stadium
The contract was announced by the Supreme Committee for Delivery & Legacy at a well-attended signing ceremony. The contract for the project is for a combined value of USD 360 million for both JV partners and is slated to be completed by 2019. The scope for the stadium includes main works and construction of the site, following completion of the enabling works.

Speaking at the occasion, Dr. Jens Huckfeldt, Chief Executive, L&T Qatar, said, "It is a matter of immense pride for Larsen & Toubro along with its joint venture partner Al Balagh, to have been given the responsibility to design and build the Al Rayyan Stadium and Precinct in preparation of the historic first Middle Eastern FIFA World Cup in 2022. We are extremely mindful of the trust and confidence given by the Supreme Committee for constructing the stadium and we are committed to deliver a masterpiece."

"Executing a project of this importance and magnitude would reinforce the relationship between all stakeholders and pave the way for a long and mutually beneficial association," he added.

"Inspired by the local patterns and dune-like structures, the Al Rayyan stadium and its precinct design will resemble the sand dunes that surround the traditional desert tents. A landmark in the making, the Al Rayyan stadium will be one of the most significant stadiums slated to host games up to the quarter-finals in the much awaited 2022 FIFA World Cup," the release stated.

Shares in Larsen were last tradinG at Rs 1497 on the NSE.

Read more about: larsen toubro
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