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Arabtec Unit to Get 40% of Nakheel Payments in April

2010-04-19

April 19 (Bloomberg) -- Arabtec Construction, a unit of Arabtec Holding Co., will receive 40 percent of the total outstanding payments from Nakheel PJSC by the end of April, Emirates Business 24/7 reported, citing the chief executive officer of the unit.  The rest of the money will be paid against a bond, Tom Barry was cited as saying by the Dubai-based newspaper. Arabtec will restart work on Nakheel’s Al Furjan project, he said.