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UPDATE 1-Strabag says gets 434 mln euro order from Libya

Tue Jan 8, 2008 6:22am EST

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(Updates with CEO comment on total order volume)

VIENNA, Jan 8 (Reuters) - Austrian construction company Strabag SE (STRV.VI) said on Tuesday it had received an order from Libya worth 434 million euros ($638 million) to overhaul the infrastructure in the town of Tajura.

Strabag said it would set up water and waste-water networks as well as telephone and electricity services in Tajura over the coming four years at the request of Libya's ministry for housing and infrastructure.

Order backlog in Africa ahead of the order from Libya had amounted to 205 million euros, said Strabag, adding it expected its total order backlog on the continent to pass the 1 billion euro threshold in the near future.

Publishing third-quarter results in November, Strabag -- the largest builder in central and eastern Europe -- reported a 25 percent rise in operating earnings over the three months to the end of September and said it expected profit to beat last year's level in the full financial year.

Strabag shares traded up 1.62 percent at 47.78 euros by 1118 GMT. (Reporting by Mark Heinrich and Karin Strohecker, editing by Will Waterman)



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