Spanish construction giant FCC expects a boost in revenues from the launch of contracts to build new subway lines in Saudi Arabia and in Peru, Arab News has reported. FCC, which reported that it had slashed losses by 91% year-on-year to EUR52.7m ($71m) in the first half of 2014, said the foreign contracts would help sales in the short term. The slide in group sales in Spain will be gradually offset, however, it said, as international activity increases “in the short term” with the commencement of contracts such as those for new subway lines in Lima and Riyadh in the second half of 2014. FCC highlighted that it was part of a consortium that won a contract in March to build two lines of Lima Metro for EUR3.3bn and that it led another consortium that won a EUR250m deal to build a subway line in Qatar’s capital Doha.
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