Larsen & Toubro Ltd has won a contract to build the $135 million (around Rs 903 crore) stadium for the 2022 World Cup in Qatar, Reuters reported. A Qatari government official told Reuters that L&T, which has faced a slowdown in the Middle East, “As part of a joint venture, L&T will serve as a contractor building the 40,000 seat Al Rayyan stadium.” L&T has not confirmed being part of the project yet.
The World Cup has faced allegations of corruption and brought attention to FIFA officials and Qatar’s hosting of the tournament in 2022, though officials in the country are certain the event will be held there planned. Qatar is also facing a 46.5 billion riyal ($12.8 billion) budget deficit this year because of a drop in oil and gas prices. Qatar is the world’s largest exporter of natural gas.
L&T is involved in several infrastructure projects in the Middle East, and said it was also bidding for projects in Africa and Asia to counter a slowdown in the Gulf, the report added.