Contracts awarded to Arabtec subsidiary Target Engineering
Dubai's 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 Dubai's 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.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.