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Saturday, 29 July 2017

France's Vinci says Gulf rift not hurting its Qatar business so far

France's Vinci says Gulf rift not hurting its Qatar business so far:

"French construction group Vinci said on Friday that its Qatar business had seen no disruption at this stage after Saudi Arabia, Egypt, the United Arab Emirates (UAE) and Bahrain severed relations with Qatar last month.

Vinci operates in Qatar through its 49 percent-owned Qatari unit QDVC. It also counts the wealthy Arab state as its third-largest shareholder, with a stake of nearly 4 percent, according to Reuters data.

"For the moment, no disruption. Our projects are not disturbed. Qatar is rather looking for friends and this facilitates discussions on some projects," Chief Executive Xavier Huillard told an interim results news conference."



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