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FINANCIAL NEWS
Arabtec secures 2 contracts for Qatar, Abu Dhabi projects
24 Apr 2012
(MENAFN) Dubai’s constructions giant Arabtec Construction secured two contracts worth a total of USD125.6 million to carry out projects in Qatar and Abu Dhabi, the Construction Week reported.
The first contract, worth USD124 million, includes the construction of an integrated chiller, freezer, laundry, dining and accommodation facilities for Qatar Petroleum, scheduled to finish in three years.
The second contract, worth USD1.6 million, is a subcontract awarded to Arabtec’s Target subsidiary, and involves shore protection work for a centralized industrial area of Halul Island, near Qatar, expected to be completed in four months.
Recently, the constructor received a letter of award from Aabar Investments for construction of a residential tower in Abu Dhabi worth USD60.4 million.
Under the deal, Arabtec will be responsible for the execution, construction, completion, testing, commissioning, handing over and maintenance of the tower.
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