Major order for PORR in Libya - Confirmation of the strategic expansion

Vienna, Tripoli (29.11.2010). PORR AG has acquired the order to build a new stadium in Libya’s capital city, Tripoli, and will realise the project with the Turkish Renaissance Group by means of a joint venture with the Libyan Investment Development Company (LIDCO). This large-scale order is worth around EUR 200m and underlines the company’s strategic expansion to the markets of MENA (Middle East & North Africa) and the CIS (Russia & Caucasus) regions. PORR AG has decades of experience and comprehensive expertise in sports facility construction, while Renaissance has the requisite knowledge of the local markets.

The stadium will be built for the continental football championships, the African Cup of Nations in 2013, and will be situated in an urban development area in Greater Tripoli. The principal is the state-owned Office for the Development of Administrative Centers (ODAC).

The project includes constructing a two-tier stadium arena with a total capacity of 50,000 seats as well as zones for the press and VIPs, and a total of 10,000 parking spaces in the direct vicinity. The architectural highlight of the building is the suspended membrane roof which will be supported by three spectacular steel arches. The triple-arch construction symbolises the ancient cities of Oea, Leptis Magna and Sabratha, from which Tripoli originated, and the construction will stretch to a height of around 100 metres. Other remarkable architectural features of this trailblazing Libyan project include the stone plinth and the suspended upper terrace. Set to be the country’s largest stadium, it is also sure to become an eye-catching architectural landmark in Greater Tripoli.

Karl-Heinz Strauss, Chairman of PORR AG, and Johannes Dotter, Executive Board Member, expressed their pleasure at this major order: “The project is an important step in the course of our selective expansion into new markets. We predict further projects in Libya and throughout the entire region. This is proof that we are on the right track with our strategy of geographic risk diversification”.

Nematollah Farrokhnia, Global CEO of the Renaissance Group added that this collaborative acquisition is yet another testament to the good cooperation between the companies.

About PORR AG
Founded in 1869 and floated on the Vienna Stock Exchange in the same year, PORR AG is one of the longest established and largest construction firms in Austria. PORR is established as a full service provider, offering a comprehensive range of services tailored to national and international markets and covering every aspect of modern construction. Whether it’s building construction or civil engineering, project development, road or tunnel construction – thanks to the seamless value chain, the comprehensive expertise of PORR AG facilitates the successful execution of extremely complex projects. Through its cooperation with the Turkish Renaissance Group, PORR is carrying out a selective expansion into new markets in the Middle East, North Africa and the CIS region.