WCT gets bigger F1 contract from Abu Dhabi

Kuala Lumpur: Malaysia’s WCT Engineering said on Wednesday it has won an extra 800 million ringgit ($252 million) contract for its Formula 1 race-track project in Abu Dhabi, raising the total contract value to 2.1 billion ringgit. Executive director Loh Siew Choh said the project would now be completed in June 2009, six months later than originally scheduled, because of the additional work. “The client wanted us to do more things. We have [secured] an additional work worth 800 million ringgit,” he said at an investment conference. “The value is likely to increase.” “Right now, the project is on time,” Loh said. WCT, which specialises in building F1 tracks, had won the Abu Dhabi contract last July. The company has built F1 race tracks in Malaysia and Bahrain. Source: Reuters