Arabtec Holding, a leading contractor for social and economic infrastructure, said its wholly-owned subsidiary, Target Engineering, has secured two key contracts worth Dh210 million ($57 million) in UAE.
The first one, a Dh84 million contract, was awarded by Adnoc Offshore to carry out the engineering, procurement, construction and commissioning (EPCC) works for the replacement of existing Slug Catchers, static equipment used in the upstream oil production facilities to minimise the slug from oil and gas pipelines, at the Satah Plant on Zirku Island, Abu Dhabi.
This award is line with the Adnoc group’s strategic priority to diversify its backlog into different sectors, including the industrial sector.
Target Engineering said it is set to start work on the project immediately and will complete it by the first quarter of 2022.
The other contract won by the Arabtec unit is a Dh126 million (excluding Main consultant’s fees) deal for the construction of a mixed-use development, Sunset Square, in the UAE capital.]
Target’s scope of work includes the construction of a 19-storey commercial tower with a total built up area of 27,000 sq m. Work will start soon on the project and is due for completion within 30 months, it added.-TradeArabia News Service
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