Dubai builder Arabtec wins $152 mln contracts in Abu Dhabi - 27-Jan-2015 Two contracts awarded to Target subsidiary : * ADNOC gives 345 mln dhs contract for housing complex * ADCO grants 215 mln dhs contract for building construction (Recasts with second contract win) Dubais Arabtec Holding has won two contracts in Abu Dhabi worth 560 million dirhams ($152.5 million) combined through its Target Engineering unit, the builder said on Sunday. Abu Dhabi National Oil Company (ADNOC) has awarded a 345 million dirham contract to expand a housing complex in Ruwais, near Abu Dhabi, to Target, a fully-owned subsidiary of Arabtec. Abu Dhabi Company for Onshore Oil Operations (ADCO) also awarded a 215 million dirham contract to Target to construct a new management building and a civil defence station, Arabtec said in statements to Dubais bourse. Both contracts are expected to be completed in February 2016. Target Engineering handles construction projects in the oil and gas sectors in the United Arab Emirates, Saudi Arabia and Qatar. ($1 = 3.6730 UAE dirhams)
Posted on: Tue, 27 Jan 2015 04:42:18 +0000
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