The Al Habtoor Leighton group and its joint venture partners Murray & Roberts and Takenaka had come to a mutual agreement with the Dubai Department of Civil Aviation (DCA) to withdraw from a contract to build the Dubai Airport Concourse 3, Leighton said.
The joint venture was awarded the contract, worth $800 million to Leighton, in December last year, and has up until now been working with the DCA to finalise its terms.
The outcome was "disappointing'' a spokesperson for the joint venture said, but it was "in the best interests of both parties that the joint venture withdraw from the project''.
Al Habtoor Leighton and its partners have already completed the Dubai Airport terminal 3 and Concourse 2.
The withdrawal from the project would not have any material impact on the Al Habtoor Leighton group's 2009 results, the company said.
Shares drift lower on poor jobs data
People in Business
