Arabtec raises EFECO capital by USD136m

23 Dec 2013

(MENAFN) Dubai-based Arabtec Holding plans to raise the share capital of its Emirates Falcon Electromechanical Co (EFECO) by USD136.1 million, Arabian Business reported.

In a statement, the company said that the capital will be invested in equipment and machinery, which would enable it to bid projects with higher values.

Arabtec completed the acquisition of EFECO in October when it purchased the remaining 45 percent stake.

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