By Andy Sambidge
Target Engineering Construction Company wins two marine deals in UAE capital.
A subsidiary of Arabtec Holding has won contracts worth AED835m ($227m) in Abu Dhabi, the parent company announced on Monday.
Target Engineering Construction Company has been awared two projects in the UAE capital, Arabtec said in a statement posted on the website of the Dubai Financial Market.
The first project awarded by Takreer is a 28-month contract to execute a sea water intake project along with associated pumping facilities, worth AED358m.
The second award by Petrofac-GS, a joint venture, involves work for the Ruwais 4 natural liquefied gas train project in Abu Dhabi and is a 20-month contract worth AED477m.
Ayman Taji, CEO of Target, said: "The two new projects enforce our strategy to position Target as a leading company in the construction sector and especially in marine engineering and construction projects."
Arabtec Holding holds a 60 percent stake in Target.