Turkish construction firm Tekfen signs $225 mln deal in Emirates

The project was for the construction of a 92 kilometer (58 miles) pipeline and oil and gas related infrastructure, Tekfen Insaat said.

In April Tekfen said it expected to finalize construction bids by the end of June worth almost $900 million in the Persian Gulf and Caspian region. Earlier this month it announced it had signed a $165 million deal to build a polyethylene plant in Qatar.

Tekfen shares were indicated 2.3 percent higher at 3.56 lira at 0655 GMT. They have risen almost 50 percent since the start of the year, outperforming the index of leading Turkish stocks .XU100, which is up around 25 percent.

Tekfen has said it hopes to double profit this year as construction picks up and the global economy recovers.

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