Bridge plan is on track

The Qatar-Bahrain Friendship Causeway will go ahead as planned, despite having been delayed for months, Vinci president Yves-Thibault de Silguy said.

In an exclusive interview with Gulf Times, the boss of the world’s largest infrastructure company maintained the $3bn, 40km bridge was “too important to be shelved”.

“The bridge is so important in economic, political and historical sense and I know we are working and we have over 150 engineers here (in Qatar) preparing the studies and work on these studies is progressing well,” Silguy, whose’ subsidiary Vinci Construction Grands Projects has a stake in the project via a joint-venture with Qatari Diar, QDVC, said.

The construction of what is to become the world’s largest causeway, was originally supposed to begin in May of 2008 after a memorandum of understanding was signed between the QDVC-led consortium and the Qatar Bahrain Causeway Foundation on September 29. It was delayed again after the ground-breaking ceremony was postponed in the first week of January since the study needed to incorporate new provisions for passenger and freight rail tracks.

“I hope work will be able to start at the end of this year,” he added.

QDVC is also engaged in Lusail Rail Track, Sheraton Car Park Project and most recently won a 358mn-euro pumping station project 25km north of Doha. The project in Seychelles is a 2.8mn-euro early contract involvement (ECI) luxury hotel complex, overlooking the Anse à la mouche bay.

“QDVC is a model of success on how we can work here with mutual trust and we now have projects here, in Paris and Seychelles,” said Silguy, who is leading a two-day business delegation to Qatar as the chairman of the Qatar Committee of the French Business Confederation (MEDEF International).

“Our special committee for Qatar is growing, growing, growing. I like dealing with Arabs. Our intention is to continue expanding and there are no indications to slow down this cooperation,” Silguy said.

Scheduled to meet HH the Emir today, Silguy said he would continue to maintain the French expertise can match a competitive market and would also emphasise on developing training programmes for Qatar.

The trade volume between Qatar and France stood close to a billion euros in 2008.

[Sidebar] Where things continue to look up

Head of global giant Vinci, Yves-Thibault de Silguy yesterday said but for the euro currency the European economies would have sunk amidst a global recession.

“We have a very serious crisis, one we had in a long time. However, I’d like to add that Europe will be protected and sheltered with its own currency. European countries that have not adopted the euro have suffered very badly,” Silguy told Gulf Times.

Calling the conclusion of the G20 summit as “quite good” in terms of help the banks and financial system will be receiving, Silguy urged that more can still be done.

“The reaction of the G20 governments was quite good. We can do more now on integrating the economies in European countries outside the foray of the euro.”

Things at Vinci with a 33.5bn-euro turnover, however, continue to look up.

[Related] Fruitful mission

Qatar French Business Club (QFBC) and Qatari Businessmen Association (QBA) jointly hosted a MEDEF (French Business Confederation) delegation yesterday. Around 40 French companies took part in what the delegation leader, Yves-Thibault de Silguy, termed as an “extremely fruitful mission.”

QFBC president Sheikh Nawaf Nasser bin Khaled al-Thani said: “In light of the financial crisis that has hit our world, we are proud to showcase to some of the globe’s leading businessmen the sustained growth of our economy which boasts solid business fundamentals.”

QBA chairman Sheikh Faisal bin Qassim al-Thani said: “MEDEF’s visit constitutes a follow-up stage in the activation of the MoU signed between the two parties during an earlier visit to Doha, for the purpose of establishing a practical framework for the development of stronger business relations between QBA and MEDEF.”

Silguy told Gulf Times: “It is very clear the economic relations between Qatar and France are progressing. Last year we were about 20 and this year over 40 companies - biggest delegation yet.”