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FINANCIAL NEWS
Arabtec’s Target wins $203m deals in Abu Dhabi
07 Jun 2010
(MENAFN) Arabtec Holding PJSC, the UAE?s biggest construction firm, said that it has won three engineering and construction contracts in Abu Dhabi, as the nation?s largest sheikhdom expands industrial facilities to boost growth, Gulf News reported.
Target Engineering Construction Co., an Arabtec unit, struck deals valued at $203 million, the Dubai-based company said in a statement. The awards were subcontracts from companies hired by Abu Dhabi state firms.
Two contracts from GS Engineering & Construction Corp. are for work at the expansion of a refinery at the industrial site of Ruwais in the Abu Dhabi emirate. The third award, from a venture of GS and Petrofac Ltd., is for work on a natural gas liquids facility at the same site, Arabtec said.
Abu Dhabi Oil Refinery Co., the state-run crude processer known as Takreer, is adding units that will more than double the facility?s capacity to transform 400,000 barrels of crude daily into products like gasoline.
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