Regarding the activities of TERNA S.A. in the Arabian Gulf, the company announces the following:
- In QATAR, the Company was awarded by the Ministry of Public Works and has started the construction, in a Joint-Venture with the local Contracting Company "Qatar Building Company" the Project "DOHA EXPRESS WAY D-RING ROAD INTERCHANGE". This project concerns the construction of a complex road interchange, which includes Bridges, Underpass and Road Works, of a total budget of 73.16 million US DOLLARS. The participation of TERNA S.A. in the Joint- Venture is 40%. The duration of the Project is 15 months.
- In BAHRAIN, the Company has signed Letters of Award of the following Projects:
"RIFA VIEWS DEVELOPMENT BE 5100". It concerns the construction of 326 luxurious villas. A Joint - Venture in which TERNA participates with 80% will execute the Project. The total budget of the Project is 106.1 million US DOLLARS and the duration of its construction is 22 months.
"MARINA WEST PROJECT IN BUDAIYA/BAHRAIN". It concerns the construction of a complex for Commercial, Residential and Hotel Use. It includes the design and the construction of 11 towers of 18 to 35 floors each, with a 2-storey podium underneath for Commercial Use & Services.
A Joint - Venture in which TERNA participates by 80% will execute the Project.
The budget of the Project is 251.9 million US DOLLARS and the duration of its construction is 33 months.
- In ABU DHABI, UNITED ARAB EMIRATES, the Company has signed a Letter of Award for the Project: "PARK ROTANA MIXED USE DEVELOPMENT". It concerns the construction of a complex of four ten storey buildings, which will include a five star hotel of the "PARK ROTANA" chain, two residential buildings, an office building and a large shopping mall in the podium, underneath the towers.
The project will be undertaken entirely by TERNA S.A. The budget of the Project is 169.39 million US DOLLARS and the duration of its construction is 23 months.
The total value of TERNA''''s undertaken projects as per the above, amounts to 485.05 million US DOLLARS (equivalent to 376 million euro on 05/02/07).