Another Gulf setback for Leighton

Leighton said today that Al Habtoor Leighton, along with JV partners Murray & Roberts and Takenaka, had withdrawn from the Dubai Airport Concourse 3 project because they were unable to conclude an acceptable contract with the developer, the Dubai Department of Civil Aviation.Al Habtoor Leighton, which is 45%-owned by Leighton Holdings, had a 40% share in the airport JV.Leighton said the withdrawal from the airport project would not have a material impact on Al Habtoor Leighton’s 2009 results.The contract withdrawal follows the suspension late last year of the construction of Dubai’s Trump Tower project, stalling a contract worth $560 million to Al Habtoor Leighton.Al Habtoor Leighton still has billions of dollars of work in hand, including the $3.7 billion Dubai Pearl development and a half-share of the $1.3 billion Zayed University in Abu Dhabi.

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