South African-based construction firm Murray & Roberts (MUR) said on Tuesday that the Salam Resort joint venture project in Bahrain has been cancelled – the second project termination in the Middle East in less than two months as the global recession deepens.
Murray & Roberts, which was in a joint venture with local partner Nass Corporation, said the cancellation would have little impact on its profits for the year to June.
In December, Murray & Roberts had to adjust its books following the cancellation of the Trump Towers and the subsequent award of Dubai International Airport Concourse 3 to Murray & Roberts late last year.
The company is due to report its interim results on February 25 and full details of the order book will be published then.