Dubai’s Arabtec Awarded USD653m Louvre Abu Dhabi Contract

Dubai-listed Arabtec Holdings has been awarded the contract to construct the Abu Dhabi branch of the Louvre museum, the contractor said in a bourse filing on Tuesday.

The contract, awarded by Abu Dhabi’s Tourism Development and Investment Co (TDIC), is valued at 2.4 billion dirhams ($653 million).

Construction will begin immediately, with the museum set to open in 2015, the statement added.

($1 = 3.6731 UAE dirhams)

Reuters