Depa Ltd, one of the prominent interiors contractor based in Dubai, has announced to acquire UAE-based stone producer Carrara Mid East Industrial Co in line with its policies to expand its business by tapping new opportunities available in the international market.

In an apparent indication of signs of recovery in the global economy, GCC registered 11.4 per cent rise in the construction projects. GCC secured construction contracts worth $142.4 billion despite a very challenging period of economic slowdown in 2009.

Punj Lloyd Ltd, a leading infrastructure solution provider, has bagged a contract worth USD 40 million from Abu Dhabi Gas Industries. The project is aimed to implement some engineering, procurement and construction (EPC) projects.

On Sunday, Dubai contractor Arabtec expressed joy over winning a 710 million dirhams ($193.3 million) contract, under which it will construct an 80-storey tower in Dubai from Abu Dhabi-based developer Tasameem Real Estate.

Arabtec, the UAE's biggest contractor by market value told that the first stage of the project will have contract value, which would take 38 months to finish.

In the initial quarter of 2010, the Secretariat General of the Gulf Cooperation Council (GCC) will be floating a public tender for the GCC's proposed $25 billion regional railway network.

On Saturday, Mohammad Bin Obeid al Mazroui, the GCC assistant secretary general for economic affairs, explained that the project will involve not more than five companies. He added that the whole project would be undertaken by one company or many companies would work on the project in a partnership.

The Wolverhampton-based building and support services firm Carillion has said that it is looking for more opportunities in Middle East to report an adequate growth rate for the financial year. The company performed well in Abu Dhabi and Oman and that would offset the losses it has met in the crisis hit Dubai.

The firm reported a significant growth rate from its operations in the UK, the Middle East and Canada that helped to strengthen its balance sheet despite many challenges in the way in the wake of global financial crisis and economic uncertainties.

Britain's construction and engineering giant Balfour Beatty has delighted investors and economists by posting a strong performance report for the first half of the current fiscal year. The company also asserted that it is now confident about posting a successful report for the complete 2009 fiscal year. Profits have been reported by the firm in both its UK and US divisions.