Business Day (Johannesburg)

South Africa: Murray And Roberts - Dubai Exposure Limited

Johannesburg — Murray & Roberts Group says it's noted the recent request by Emirate of Dubai state-owned developer Dubai World and its subsidiary Nakheel, for a temporary suspension of debt repayments.

But the South African company says the only contract to which Murray & Roberts was exposed with Nakheel was Trump Tower.

This contract was terminated and all accounts settled in full within the previous financial year.

Murray and Roberts say the only exposure the company says it has is with it's partners HMRT Joint Venture.

Both continue to progress final account settlement of the Dubi International Airport Terminal 3 and Concourse 2 Project for Dubai government's Department of Civil Aviation.

While progress remains slow, the HMRT Joint Venture is confident of its rights under the contract and M and R say they will pursue such rights as appropriate.


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