Dubai-listed ALEC Holdings announced that its subsidiary Target Engineering Construction Company – SP has secured three major engineering, procurement and construction (EPC) project contract awards in the Gulf region.

The combined value of the three projects is approximately $500 million, the company said, adding that these will be executed over varying timelines of 10 months, 21 months and 36 months

ALEC said the financial impact of the awards will be reflected in the company’s results over the respective execution periods in line with its revenue recognition policy.

The company did not disclose details of the clients, locations or project scope.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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