Arabtec subsidiary awarded $36.67mln sub-contract for Saudi offshore project

Target Engineering will construct offshore Marine works off Jubail, Eastern Saudi Arabia

  
Image for illustrative purpose. Arabtec logos are seen on buildings under construction in the Marina area of Dubai.

Image for illustrative purpose. Arabtec logos are seen on buildings under construction in the Marina area of Dubai.

REUTERS/Steve Crisp

Arabtec subsidiary Target Engineering has been awarded a 14-month sub-contract worth SAR 145 million ($35.67 million) for offshore Marine works in Saudi Arabia.

The sub-contract, announced by Arabtec to Dubai Financial Market on Sunday was awarded by Shandong Teijun Electric Power Engineering Company Ltd for the JUBAIL 3A Independent Water Project, off Jubail in Eastern Saudi Arabia. 

Arabtech shareholders voted last month to dissolve the company.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@refinitiv.com

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© ZAWYA 2020


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