Dubai builder Arabtec wins $283m contract from Saudi Aramco

Deal is for 380 villas and the project in Al Dhahran is due to be completed within 28 months
Dubai builder Arabtec wins $283m contract from Saudi Aramco
By Reuters
Tue 24 Mar 2015 11:07 AM

Dubai's Arabtec has been awarded a AED1.04 billion ($283.16 million) contract from Saudi Aramco to build 380 villas in Saudi Arabia, the contractor said on Tuesday.

Arabtec, which this week put four of its five Saudi subsidiaries up for sale, said it would complete the project in Al Dhahran within 28 months.

The company said it had also recently won other contracts from Saudi Aramco worth AED930 million via unit Target Engineering.

Saudi Aramco is Saudi Arabia's state-run oil company.

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