Dubai to award $3 billion building contracts for Expo 2020

A booth is seen on a beach in Dubai carrying the Expo 2020 logo. (Reuters)

Dubai said Monday it will award this year 47 construction contracts worth $3 billion in preparation for the World Expo 2020 international trade fair.

The contracts, which are open to local and foreign bidders comprise the final infrastructure package for the support areas for the global event, the organizing committee said in a statement. Another 98 non-construction contracts, worth $98 million (92 million euros) are also expected to be awarded in 2017, the statement said.

“The announcement shows that the Expo is on track to complete the majority of construction a full year ahead of the event opening in October 2020,” it said.

In 2016, Expo 2020 Dubai awarded more than 1,200 contracts worth $544.5 million, it added. Organizers hope that the six-month fair that will spread over 4.38 square kilometers (1,080 acres) will receive up to 300,000 visitors a day.

The Gulf city state won the right to host the prestigious event after beating Russia's Ekaterinberg in the final round of voting in November 2013.

Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53