ELLAKTOR SA, regarding press articles that refer to Dubai, informs the investment community that the Group is active in Dubai through its subsidiary ΑL AHMADIAH AKTOR, in which the Group holds a 50% stake.
The most significant project that the company realizes today in the area of Dubai is the construction of biological cleaning in Jebel Ali, a euro 300 mil. budgeted project, with the employer being the Dubai Municipality. This project was undertaken in 2007 and its backlog is at euro 46 mil. (30.9.2009). For the above project, the construction company ΑL AHMADIAH AKTOR has outstanding claims amounting approximately euro 40 mil.
The second project refers to the construction of the American School of Dubai, whose backlog is at euro 50 mil.
Additionally, please note that the company has no contractual relationship with Dubai World.